Bhubaneswar: Vedanta Limited has announced an ambitious plan to invest Rs one lakh crore in Odisha during a roadshow held for ‘Utkarsh Odisha- Make in Odisha Conclave 2025’ in Mumbai.
The investment will be used for the establishment of a state-of-the-art alumina refinery with an annual capacity of 6 million tonnes and a plant with capacity producing 3 million tonnes of green aluminium, powered by renewable energy sources.
Vedanta said it has been the partner of Odisha since last two decades with investment of more than Rs one lakh crore, creating more than one lakh jobs in the state.
Vedanta has acquired Sijimali mines through auctions which is one of the largest deposits of bauxite.
During the interaction with Chief Minister Mohan Charan Majhi and his delegation during the roadshow of Make in Odisha Conclave 2025 “Utkarsh Odisha” on Friday, Vedanta Limited said the investment will create massive industrial complex for the downstream industries, as there are more than hundreds of applications of aluminium which is used in auto, power, construction and railways sectors.
As Odisha is moving towards the most developing state with a vision to become half a trillion economy by 2030. Vedanta believes Raygada will be the most developed area similar to the new Jharsuguda. Vedanta and the state government together will open education centres, hospitals, skill development centres and Nandghars for the people.
“This will be the largest investment ever made in Odisha which will create 2 lac jobs and opportunities for 1000s of MSMEs. As Aluminium is the metal of the future, demand for Aluminium is likely to double by 2030,” Vedanta said in a statement.
Speaking on the occasion, the Chief Minister said Odisha’s new double engine government is committed to the Prime Minister’s vision of Viksit Bharat by 2047. We are inviting the world to come and invest in new Odisha as we target to make Odisha a half trillion-dollar economy by 2030. “During the pre-event road show, 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 crore including a new 6 Million Ton Alumina refinery & 3 Million Ton Smelter which will create more jobs for the people of state. I take this opportunity to thank Shri Agarwal for this new investment and ensure that the state government will provide full support towards development of these projects. Jai Jagannath,” he said.
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 Hon. CM. Shri 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. This announcement not only reaffirms Vedanta’s position as a key partner in Odisha’s development but also strengthens the state’s potential to become a global hub for Aluminium and industrial innovation.”