Vedanta’s commitment to invest approximately Rs 1 lakh crore in Odisha over the coming years

Bhubaneswar:2310/25:In a significant boost to Odisha’s industrial landscape, Vedanta Group Chairman Anil Agarwal met with Chief Minister Mohan Charan Majhi at the Lok Seva Bhawan today to discuss a series of ambitious new projects.

The meeting highlighted Vedanta’s commitment to invest approximately Rs 1 lakh crore in the state over the coming years, which is expected to generate over 1 lakh direct and indirect employment opportunities.

The Odisha government has assured full support for these initiatives, including the provision of necessary land and other facilities to facilitate the investments. This collaboration aims to strengthen Odisha’s position in the global metal value chain.

A key highlight of the discussions is the establishment of a state-of-the-art ferro-alloy plant in Keonjhar district, with Vedanta committing Rs 2,000 crore for the project. This facility is poised to enhance the state’s industrial capabilities and contribute to economic growth.

Additionally, Vedanta plans to set up two new aluminium parks in Odisha. One will be located near the company’s existing aluminium plant in Jharsuguda, while the second will be established at a site where the state government provides suitable land. These advanced parks will produce high-grade aluminium alloys suitable for applications in aerospace, electric vehicles, and defence sectors. The projects are expected to attract substantial downstream investments and foster significant growth in the MSME sector.

Chief Minister Majhi emphasised that these industrial ventures align with Prime Minister Narendra Modi’s vision of a ‘Viksit Bharat’ (Developed India). He stated that through infrastructure development and investments from companies like Vedanta, Odisha is fully prepared to become a global hub in industry and technology. “This investment will not only drive economic growth but also create vast opportunities for the youth, empower the common people, and pave the way for Odisha to achieve a $500 billion economy by 2036,” the Chief Minister said. He described the initiatives as a “game-changer” for Odisha’s bright future.

During the meeting, Agarwal expressed gratitude to the Chief Minister and the state government for their cooperation in supporting Vedanta’s projects.

The discussions were attended by key officials, including Chief Secretary Manoj Ahuja, Additional Chief Secretary, Industries, Hemant Sharma, Additional Chief Secretary, Steel and Mines, Surendra Kumar, and the Chief Minister’s Principal Secretary, Saswata Mishra.

This partnership underscores Odisha’s growing appeal as an investment destination, promising transformative development in the state’s economy and job market.