Vedanta’s single largest investment in Odisha, at Rs 80k crores

Anil Agarwal, Chairman – Vedanta Resources, met with Naveen Patnaik, Chief Minister of Odisha, on the sidelines of ‘Make in Odisha – 2022’ roadshow being organised by the Government of Odisha in Mumbai.

The Vedanta Group has made its single largest investment in Odisha till date, in aluminium manufacturing value chain, ferrochrome, mining and value-addition, to the tune of Rs 80,000 crores.

With this quantum of investment, Vedanta is contributing nearly 4% to Odisha’s state GDP through its operations (direct & indirect). The companyhas also created over 5 lakh livelihood opportunities and fostered hundreds of MSMEs in the state.

Speaking about Vedanta’s partnership in the progress of Odisha, Anil Agarwal, Chairman – Vedanta Resources, said, “We (Vedanta) stand testimony to what is possible if you Make in Odisha. It is amongst the most favourable investment destinations in India, ably led by the stable governance, leadership, and vision of Naveen Patnaik, which is reflected in the state’s Ease of Doing Business rankings. Single window clearance system, 5T framework, focus on infrastructure projects, etc. have increased the investor community’s confidence in Odisha. And it is on account of this, that we have new investments of more than INR 25,000 crores in line for expansion of our aluminium, ferrochrome and mining business, which will create more job opportunities and revenue for the state.”

“We are also setting up one of the largest Aluminium Parks near our Jharsuguda smelter to boost the domestic aluminium downstream ecosystem. It heartens us to see our investment in Jharsuguda turn the district into a vibrant industrial hub with an airport. Odisha’s rich culture, technically skilled manpower and natural resource sectorhave contributed significantly to boost the GDP of the nation.Beyond business, we are in the process of establishing 650 Nand Ghars, which will benefit more than 5 lakh women & children with interventions in education, nutrition, healthcare and skill development. This will be in addition to our 360-degree community development programs in hundreds of villages,” he said.