Vedanta plans to invest ₹25,000 cr more in Odisha for capacity extension

Vedanta Resources, which has made 80,000 crores of rupees in Odisha, announced that it intends to invest an additional 25,000 crores there in order to grow the mining, ferrochrome, and aluminium sectors of the state’s economy. According to a firm statement, with this amount of investment, its operations (direct and indirect) are generating close to 4% of Odisha’s GDP.

On the sidelines of the “Make in Odisha – 2022” tour, Odisha Chief Minister Naveen Patnaik met with Vedanta Resources Chairman Anil Agarwal in Mumbai. The statement quoted Agarwal as saying that the company had supported hundreds of MSMEs in the state and produced over five lakh new livelihood prospects.

He reportedly said, “Vedanta is a living example of what can be accomplished in Odisha. It is one of the best places in India to invest thanks to Shri. Naveen Patnaik Ji’s capable leadership, stable government, and vision are reflected in the state’s Ease of Doing Business rankings.” The company has “New investments of more than 25,000 crores in accordance with the expansion of its aluminium, ferrochrome, and mining sectors, which will provide more job opportunities and revenue for the state,” the executive continued.

Agarwal added that Odisha’s rich culture, skilled labour force, and natural resource sector have contributed significantly to boosting the GDP of the country. “We are also setting up one of the largest aluminium parks in the country near our Jharsuguda smelter to boost the domestic aluminium downstream ecosystem,” he said.

Leave a Reply

Your email address will not be published. Required fields are marked *