Bhubaneswar: Anil Agarwal-led Vedanta company on Friday announced an investment of Rs 1 lakh crore in Odisha to set up an alumina refinery and an aluminium plant in the State. The company has already invested Rs 1 lakh crore across assets in the State.
Vedanta Chairman Anil Agarwal met Odisha Chief Minister Mohan Charan Majhi earlier during the day in the financial capital. CM
Shri Majhi is in Mumbai for a roadshow to be held on Saturday, ahead of an investor summit in Odisha in January 2025
The new investment will be in setting up a 6 million tonne per annum (MTPA) alumina refinery and a 3MTPA green aluminium plant, focused on producing green aluminium powered by renewable energy, a statement from Vedanta said.
This will create a 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, it said.
As Odisha progresses toward becoming one of the most developed states with a vision to achieve a half-trillion-dollar economy by 2030, Vedanta envisions Rayagada emerging as a highly developed region, akin to the new Jharsuguda.
In collaboration with the State government, Vedanta Chief said it will establish education centers, hospitals, skill development centers, and Nandghars to benefit the people of the State.
This will be the largest investment ever made in Odisha which will create 2 lakh jobs and opportunities for 1000s of MSMEs. As Aluminium is the metal of the future, demand for Aluminium is likely to double by 2030, it claimed.
Anil Agarwal, Chairman, Vedanta Ltd, 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 Manjhi, we will continue to contribute to the state’s economic progress, empower communities, and enhance the quality of life for millions in Odisha.”