Mumbai: Vedanta, a leading player in the metals and mining sector, announced on Friday its plans to invest Rs 1 lakh crore in Odisha to establish a 6 million tonne per annum (MTPA) alumina refinery and a 3 MTPA green aluminium plant. This investment, marking the company’s second large-scale commitment in the state, aims to create approximately 2 lakh jobs and contribute to Odisha’s goal of becoming a $500 billion economy by 2030.
Vedanta Chairman Anil Agarwal made this announcement during a meeting with Odisha Chief Minister Mohan Charan Majhi in Mumbai ahead of an investor summit scheduled for January 2025. Agarwal emphasized the importance of Odisha in Vedanta’s growth trajectory, stating, “Odisha has always played an important role in Vedanta’s growth.”
The investment is expected to establish a “massive industrial complex” that will support downstream industries, benefiting sectors such as automotive, power, construction, and railways. With global demand for aluminium projected to double by 2030, Odisha is poised to become a key industrial hub, according to the company.
Additionally, Vedanta plans to collaborate with the state government on investments in social infrastructure, including education centers, hospitals, skill development hubs, and play schools. The new plant will be located in Rayagada, which is anticipated to mirror the industrial development seen in Jharsuguda.
During his visit to Mumbai, Chief Minister Majhi also held bilateral meetings with prominent industrialists, including JSW Group Chairman Sajjan Jindal and Nadir Godrej of Godrej Industries.
