Vedanta Group's Monumental Investment to Transform Odisha's Industrial Landscape

Vedanta Group announces an additional investment of Rs 1 lakh crore in Odisha, focusing on infrastructure like a refinery, an aluminium park, and a ferro-alloys plant, promising over one lakh jobs. The investment aims to uplift the region's industrial prowess, with governmental backing to enhance the state's global metal value chain stance.

In a groundbreaking move for Odisha's industrial sector, Vedanta Group will significantly expand its investments, infusing Rs 1 lakh crore into the state. This investment aims to create over 100,000 job opportunities, both direct and indirect, officials stated on Thursday.

Key components of the plan include the establishment of a ferro-alloys plant in Keonjhar worth Rs 2,000 crore and two aluminium parks—one in Jharsuguda. These initiatives were outlined during a meeting where Vedanta Group Chairman Anil Agarwal met with Odisha Chief Minister Mohan Charan Majhi.

The state government has pledged full support, facilitating land and infrastructure, and forecasting an economic boost that could see Odisha become a USD 500-billion economy by 2036. The projects are expected to enhance the MSME sector and position Odisha as a global industrial hub.

(With inputs from agencies.)