Vedanta Group to invest Rs 1 lakh crore in industrial ventures in Odisha

The Vedanta Group has decided to make a capital investment of Rs 1 lakh crore in Odisha, which is expected to generate over one lakh direct and indirect employment opportunities in the state, a senior official said here on Thursday.

Earlier on Thursday, Vedanta Group Chairman Anil Agarwal called on Chief Minister Mohan Charan Majhi at the state secretariat and apprised him of the group’s proposed industrial projects in the state.

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The state government has assured full support for these investments, including the provision of required land and other infrastructure facilities, the official added.

As part of the discussions, it was also revealed that an ultra-modern Ferro-Alloys Plant will be established in Keonjhar to enhance Odisha’s standing in the global metal value chain. Vedanta will invest Rs 2,000 crore in this project.

Additionally, Vedanta will set up two new Aluminium Parks in Odisha. One of these parks will be located near its Aluminium Plant at Jharsuguda, while another will come up at a site identified by the state government. These state-of-the-art parks will produce high-grade aluminium alloys suitable for use in aerospace, electric vehicles, and defence sectors. This will attract large-scale downstream investments and significantly boost the MSME sector in Odisha.

After discussions with Vedanta Chairman Agarwal, CM Majhi said, “The state government is committed to realising the Prime Minister’s vision of ‘Viksit Bharat’. Through infrastructure development and industrial investments by companies like Vedanta, Odisha will achieve this goal, and the state is now poised to emerge as a global hub for industry and technology.”

He further stated that such initiatives will not only accelerate economic growth but also create vast opportunities for the youth, empower people, and set the ground for Odisha to become a $500 billion economy by 2036.

“This massive investment will be a game changer for the bright future of Odisha,” the Chief Minister added.

Anil Agarwal, Chairman of Vedanta Group, thanked the Chief Minister and the state government for their continuous support of Vedanta’s industrial projects in Odisha.

Chief Secretary Manoj Ahuja, Additional Chief Secretary, Industries Department, Hemant Sharma, Additional Chief Secretary, Mining & Steel Department, Surendra Kumar, and Principal Secretary to Chief Minister Saswat Mishra, among others, attended the meeting.