Vedanta Group’s Chairman, Anil Agarwal, has disclosed an ambitious investment plan of Rs 1 lakh crore aimed at developing sectors such as aluminium, mining, refining, and downstream manufacturing in Odisha.
This announcement came after a meeting with Odisha’s Chief Minister Mohan Charan Majhi on Saturday, September 26, and emphasizes the need for quicker land allocation and governmental approvals to facilitate project progress within the next two to three years.
The proposed expansion involves the establishment of a refinery in Raigarh and a smelter, as well as enhancements to bauxite and aluminium production capabilities.
Additionally, Vedanta intends to increase operations at its existing facility in Jharsuguda, planning a new two million-tonne plant on 500 acres adjacent to the current power plant.
Anticipated outcomes of this investment include the creation of at least 50,000 direct and indirect jobs and establishing Odisha as a central hub for aluminium production in India.
Key projects highlighted in the initiative encompass a three million-tonne per annum aluminium smelter in Dhenkanal and a six million-tonne per annum alumina refinery in Rayagada, along with the development of downstream aluminium parks throughout the state.
Agarwal reiterated that the commencement of these projects is contingent upon ongoing support from the government, stressing that the speed of implementation will rely heavily on the efficiency of land allotment and regulatory approvals.
The group also committed to supplying power and aluminium to industries setting up in Odisha while ensuring that local job opportunities are prioritized.
In addition to industrial advancements, Vedanta has proposed the development of social infrastructure, which includes a 1,000-bed hospital in western Odisha, a digital university, and a research facility dedicated to finding treatments for diseases like cancer.
