Vedanta Group Announces ₹1 Lakh Crore Investment in Odisha for Aluminium Smelter, Refinery Expansion and Downstream Manufacturing
Vedanta Group Chairman Anil Agarwal has announced a ₹1 lakh crore investment plan in Odisha. He made the announcement after meeting Chief Minister Mohan Charan Majhi. The plans span aluminium, mining, refining and downstream manufacturing. The group expects to take the projects forward over the next two-and-a-half to three years.
The group plans to develop another refinery in Raigarh and a smelter. It also plans to advance work related to bauxite and aluminium production.
At Jharsuguda, Vedanta is considering a 2 million-tonne plant as part of an expansion of its existing operations. Around 500 acres would be made available alongside the existing power plant. The company says the expansion could generate at least 50,000 direct and indirect jobs.
Agarwal said the pace of implementation will depend on the speed of land allotment and government clearances. He said the projects could start moving ahead immediately if this support continues.
Agarwal also called for a downstream aluminium industry in Odisha. He said small and medium enterprises could make components for the automobile, aviation, railway and transport sectors. Vedanta would supply power and aluminium to units setting up in the state.
The source does not give a project-wise investment split, the location of the smelter, product capacities other than the 2 million-tonne Jharsuguda plant, or commissioning dates.
