Vedanta to invest Rs 1 lakh crore in several projects in the state of Odisha

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Vedanta Limited has announced a new investment of Rs. 1 lakh crore to set up an alumina refinery and an aluminium plant in the state of Odisha, ANI reported.

According to ANI, the company claimed that the investment will be aimed towards building a 6 million tons per annum alumina refinery and a 3 million tons aluminium plant which will be focused on producing green aluminium powered by renewable energy.

Moreover, the company will collaborate with the Government of Odisha to establish education centres, hospitals, skill development centres and Nandghars to benefit the people in Odisha.

It said that this will be the largest investment ever made in the state that will create around 2 lakh job opportunities for over 1000 MSMEs, as per ANI.

In response to the Vedanta's investment, Odisha's Chief Minister Mohan Charan Majhi said, "We are organising the Make In Odisha event "Utkarsh Odisha" in January 2025 and today during the pre-event roadshow, we had a fruitful interaction with Vedanta Chairman Anil Agarwal who is impressed by our new robust policy framework. He has joined hands with our government to double their investment in Odisha and further invest Rs. 1 Lakh Cr including a new 6 Million Ton Alumina refinery & 3 Million Ton Smelter which will create more jobs for the people of the state. I take this opportunity to thank Agarwal for this new investment and ensure that the state government will provide full support towards the development of these projects."

As per ANI, the Chairman of Vedanta Ltd, Anil Agarwal said, "Odisha has always played an important role in Vedanta's growth. Our investments reflect our commitment to the state's inclusive growth and driving large-scale industrialization. Under the leadership of CM Mohan Charan Majhi, we will continue to contribute to the state's economic progress, empower communities, and enhance the quality of life for millions in Odisha."

The Indian global mining conglomerate, Vedanta Limited has its headquarters in Mumbai. Its main operations are in iron ore, gold and aluminium mines in the Indian states of Goa, Karnataka, Rajasthan and Odisha.

(With inputs from ANI)