MUMBAI: Metal and mining main Vedanta on Friday introduced an funding of Rs 1 lakh crore in Odisha to set up an alumina refinery and an aluminium plant in the state. The Anil Agarwal-led group has already invested Rs 1 lakh crore throughout property in the state.
The new funding shall be in setting up a 6 million tonne every year (MTPA) alumina refinery and a 3MTPA inexperienced aluminium plant, a press release from Vedanta stated.
It will create 2 lakh jobs in the state and assist Odisha obtain its aim of turning into a USD 500 billion financial system by 2030.
Vedanta Chairman Anil Agarwal met Odisha Chief Minister Mohan Charan Majhi earlier in the course of the day in the monetary capital. Majhi is in Mumbai for a roadshow to be held on Saturday, forward of an investor summit in Odisha in January 2025.
Commenting on the brand new funding dedication, Agarwal stated Odisha has at all times performed an necessary function in Vedanta’s progress and affirmed the corporate’s dedication to drive large-scale industrialisation in the state.
The new funding will create “massive industrial complex” for downstream industries, the assertion stated, including that there are tons of of purposes for aluminium together with in the auto, energy, development and railways sectors.
As per the assertion, demand for aluminium — a steel of the longer term — is probably going to double by 2030.
Vedanta stated it believes Rayagada would be the most developed space in Odisha related to the brand new Jharsuguda.
Additionally, the corporate may even open schooling centres, hospitals, talent growth centres and play faculties together with the Odisha authorities in the state.
Majhi is known to have met JSW Group chairman Sajjan Jindal and Nadir Godrej of Godrej Industries on a bilateral foundation in the course of the go to to the monetary capital.
