Bhubaneswar: Vedanta Group Chairman Anil Agarwal Saturday announced an ambitious Rs one lakh crore investment drive in Odisha, with plans spanning aluminium, mining, refining and downstream manufacturing sectors.
The Vedanta chief also sought steps to ensure faster land allocation and government clearances to take the projects forward over the next two-and-a-half to three years.
Making the announcement after meeting Odisha Chief Minister Mohan Charan Majhi in Bhubaneswar on Saturday, Agarwal said the group was ready to invest in projects aimed at expanding industrial activity and employment in the state.
Stating that Vedanta was looking to develop another refinery and a smelter, he said the group will also advance work related to bauxite and aluminium production. The group also plans to expand its existing operations in Jharsuguda.
“Will make an investment of Rs one lakh crore,” Agarwal was quoted by ANI as saying. The projects could start moving ahead immediately if the government continued to provide cooperation, he said.
On the proposed expansion in Jharsuguda, Agarwal said the group was considering setting up a 2 million-tonne plant, with around 500 acres of land being made available alongside the existing power plant. He said the expansion could generate at least 50,000 jobs directly and indirectly.
“If this government keeps cooperating like this, the work will move forward,” Agarwal said, adding that the pace of implementation would depend on the speed of land allotment and clearances.
Agarwal also called for greater development of aluminium-based industries in Odisha, saying the state could attract a large number of small and medium enterprises producing components for sectors including automobiles, aviation, railways and transport.
He said Vedanta would provide power and aluminium to industries setting up operations in the state, while seeking employment for local people as a priority.
The Vedanta chief also pitched for greater social infrastructure alongside industrial development, including a large hospital for tribal communities, a digital university and a research-oriented hospital. He said he wanted the proposed research facility to work towards developing medicines for major diseases such as cancer.
Agarwal said the focus should be on creating employment opportunities for tribal communities and expanding industrial activity, while seeking cooperation from the government to take the plans forward.
The broader objective was to accelerate Odisha’s industrialisation while creating employment opportunities for people across the state, the Vedanta chief added.