New Delhi, October 18, 2024। Vedanta Group has announced an investment of over 1 lakh crore rupees in Odisha, making it a significant partner in the state’s development over the past two decades. This investment is expected to create more than 1 lakh job opportunities in the state. Vedanta has also acquired the Sijimali bauxite mine through auction, one of the largest bauxite reserves in the state.
During the roadshow of ‘Utkarsh Odisha’ under the ‘Make in Odisha Conclave 2025’, Vedanta Limited announced a new investment of 1 lakh crore rupees to establish a 6 million ton per annum alumina refinery and a 3 million ton capacity aluminum plant. This will lead to the development of industrial parks for downstream industries, as aluminum has numerous applications in sectors like auto, power generation, manufacturing, and railways.
Odisha is rapidly moving towards becoming one of the most developed states in the country by 2030, with a vision of achieving a 5 trillion dollar economy. Vedanta believes that Rayagada will become one of the most developed areas, similar to Jharsuguda. The company, in collaboration with the Odisha state government, will also operate educational centers, hospitals, skill development centers, and Nandghars for the benefit of Odisha’s citizens.
This investment will create over 2 lakh job opportunities and provide new growth prospects for more than 1000 MSMEs. Aluminum is considered the metal of the future, with its demand expected to double by 2030.
Chief Minister of Odisha, Shri Mohan Charan Majhi, stated, “The Prime Minister’s vision is to develop India by 2047, and Odisha’s new double-engine government is committed to this goal. We invite the world to invest in the new Odisha, as our target is to make Odisha a half-trillion dollar economy by 2030.”
Vedanta Limited Chairman, Shri Anil Agarwal, said, “Vedanta’s progress has always been supported by Odisha state. Our investments demonstrate our commitment to inclusive development and large-scale industrialization. Under the leadership of Hon’ble Chief Minister Shri Mohan Charan Majhi, Vedanta Group will continue to contribute to the state’s economic growth, community empowerment, and improved quality of life for millions of citizens in Odisha.”
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