Vedanta plans ₹1 lakh crore investment in Odisha, announces new ferro-alloy plant
Vedanta Group chairman Anil Agarwal on Thursday met Odisha chief minister Mohan Majhi, unveiling his group’s plans in the state over the next few years
Bhubaneswar: Vedanta Group chairman Anil Agarwal on Thursday met Odisha chief minister Mohan Majhi, unveiling his group’s plans to invest around ₹1 lakh crore in the state over the next few years.
Among the major announcements is a ₹2,000-crore state-of-the-art ferro-alloy plant in Keonjhar district, apart from two new aluminium parks — one near its existing Jharsuguda facility and the other location to be finalized by the state government — which will manufacture high-grade aluminium alloys for aerospace, electric vehicles, and defence applications.
Vedanta currently operates a 1.8 Million Tonnes Per Annum (MTPA) aluminium smelter at Jharsuguda with a 4,900 megawatt (MW) captive power plant, a 3.5 MTPA alumina refinery at Lanjigarh, and chrome and iron ore mines across Jajpur, Dhenkanal, and Sundargarh. The company is also setting up a 3 MTPA greenfield aluminium smelter near Kamakhyanagar in Dhenkanal and a 6 MTPA alumina refinery with a 1.2 MTPA smelter in Rayagada district.
The state government assured full support to Vedanta’s expansion drive, including land allocation and infrastructure facilitation. “This investment will not only accelerate economic growth but also open vast opportunities for our youth and help Odisha achieve a $500 billion economy by 2036,” CM Majhi said after the meeting.