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Vedanta’s investment in Odisha stands at Rs 80,000 crore

The company has also created over 5 lakh livelihood opportunities and fostered hundreds of MSMEs in the state.

SNS | New Delhi |

Anil Agarwal, Chairman, Vedanta Resources, on Thursday met Odisha Chief Minister Naveen Patnaik on the sidelines of ‘Make in Odisha – 2022’ road-show being organised by the State Government in Mumbai, and said that Odisha is the most favourable investment destination in India.

Vedanta Group has made its single largest investment in Odisha till date, in aluminium manufacturing value chain, ferrochrome, mining and value-addition, to the tune of Rs 80,000 crore. With this quantum of investment, Vedanta is contributing nearly 4 per cent to Odisha’s state GDP through its operations – direct and indirect.

 “We stand testimony to what is possible if you make in Odisha. It is amongst the most favourable investment destinations in India, ably led by the stable governance, leadership, and vision of Patnaik, which is reflected in the state’s ease of doing business rankings,” said Agarwal.

He said that the single window clearance system, 5T framework, and focus on infrastructure projects, etc., have increased the investor community’s confidence in Odisha. And it is on account of this, that we have new investments of more than Rs 25,000 crore in line for the expansion of our aluminium, ferrochrome and mining business, which will create more job opportunities and revenue for the state, he added.

Agarwal said: “We are also setting up one of the largest aluminium parks near our Jharsuguda smelter to boost the domestic aluminium downstream ecosystem. It heartens us to see our investment in Jharsuguda turn the district into a vibrant industrial hub with an airport. Odisha’s rich culture, technically skilled manpower and natural resource sector have contributed significantly to boost the GDP of the nation.”

“Beyond business, we are in the process of establishing 650 Nand Ghars, which will benefit more than 5 lakh women and children with interventions in education, nutrition, health care and skill development. This will be in addition to our 360-degree community development programs in hundreds of villages,” added Agarwal.