Bhubaneswar, September 28 (APAC Media): Vedanta Group has announced plans to invest Rs 1 lakh crore in Odisha, with the proposed investment spanning aluminium, mining, refining, and downstream manufacturing.
Chairman Anil Agarwal, after a meeting with Chief Minister Mohan Charan Majhi, informed that the group plans to take the projects forward over the next two and a half to three years, subject to faster land allocation and government clearances.
The investment is expected to expand Vedanta’s presence in the state while supporting the development of a wider aluminium-based manufacturing ecosystem.
New Refinery, Smelter, and Jharsuguda Expansion Planned
As part of the investment drive, Vedanta is looking to develop another refinery in Raigarh, establish a smelter, and advance projects related to bauxite and aluminum production.
The company is also planning to expand its existing operations in Jharsuguda. Agarwal said Vedanta is considering setting up a 2 million-tonne plant as part of the expansion, for which around 500 acres of land could be made available alongside the existing power plant.
According to Agarwal, the proposed Jharsuguda expansion has the potential to create at least 50,000 direct and indirect jobs.
Plan to Develop Aluminium Manufacturing Ecosystem
Agarwal also called for greater development of aluminium-based downstream industries in Odisha, highlighting the potential to attract small and medium enterprises (SMEs) manufacturing components for sectors such as automobiles, aviation, railways, and other forms of transportation.
Agarwal also stressed the importance of ensuring that local communities benefit from industrial expansion, calling for employment priority for local people as new projects and downstream industries take shape.
The proposed investment could further strengthen Odisha’s position as a major hub for aluminium production while encouraging the development of value-added manufacturing around the sector.
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