Vedanta to Invest Rs 1 Lakh Crore in Odisha
Vedanta to Invest Rs 1 Lakh Crore in Odisha
Vedanta to Invest Rs 1 Lakh Crore in Odisha
News summary

Vedanta Ltd. has announced a significant investment of Rs 1 lakh crore in Odisha, aimed at establishing a 6 million tonne per year alumina refinery and a 3 million tonne green aluminium plant, enhancing its industrial footprint in the state. This new venture is expected to create approximately 2 lakh jobs and support the growth of 1,000 MSMEs, aligning with Odisha's ambition to become a USD 500 billion economy by 2030. Chairman Anil Agarwal emphasized the company's long-standing commitment to Odisha's development, having already invested over Rs 1 lakh crore and generated more than 1 lakh jobs in the last two decades. The investment will also focus on community development by setting up educational institutions, hospitals, and skill development centers. As demand for aluminium is projected to double by 2030, this initiative aims to position Odisha as a hub for downstream industries. The announcement was made during a roadshow in Mumbai ahead of the upcoming Make-in-Odisha Conclave 2025.

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