Bhubaneswar: In a major boost to the industrial sector in Odisha, Vedanta is all set to invest over Rs one lakh crore to establish major projects in the state.
This was revealed when Vedanta Group Chairman Anil Agarwal met Chief Minister Mohan Charan Majhi at Lok Seva Bhawan in Bhubaneswar on Thursday and discussed several new industrial projects proposed to be set up in the state.
During the discussion, it was revealed that Vedanta plans to make a capital investment of around Rs one lakh crore in Odisha in the coming days. This investment will generate over one lakh direct and indirect employment opportunities in the state., the CM’s office said in a statement after the meeting.
The state government has assured full support for these investments, including the provision of required land and other infrastructure facilities.
Agarwal told reporters after the meeting that the aluminium major has planned to set up a 3 MTPA aluminium plant in Odisha. The company is ready to begin work for the project within three to four months of land allocation, said Agarwal.
He said the Chief Minister has assured the company to allocate land and facilitate all necessary clearance for the proposed project.
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.
On this occasion, the Chief Minister said that 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. The Chief Minister added that Odisha 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 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 thanked the Chief Minister and the state government for their continuous support to Vedanta’s industrial projects in Odisha.
Present at the meeting were 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.
