Bhubaneswar: Vedanta Group Chairman Anil Agarwal on Saturday announced plans to invest Rs 1 lakh crore in Odisha over the next two-and-a-half to three years, with the proposed projects covering aluminium, mining, refining and downstream manufacturing.
Agarwal announced the investment after meeting Chief Minister Mohan Charan Majhi and sought faster land allocation and government clearances to expedite implementation of the projects.
The Vedanta chief said the group was considering a new refinery in Rayagada, a smelter and further work in bauxite and aluminium production, besides expanding its existing operations in Jharsuguda.
As part of the Jharsuguda expansion, the group is looking at a 2-million-tonne plant, for which around 500 acres of land is being made available near its existing power plant, Agarwal said. The proposed expansion could create at least 50,000 direct and indirect jobs, he added.
Agarwal said the projects could move ahead immediately if the state government continued its cooperation, while the pace of execution would depend largely on land allotment and statutory clearances.
He also called for developing a larger aluminium-based industrial ecosystem in Odisha by attracting small and medium enterprises manufacturing components for sectors such as automobiles, aviation, railways and transport.
Vedanta, he said, would supply power and aluminium to industries setting up units in the state, while employment for local people, particularly tribal communities, would remain a priority.
Agarwal also proposed strengthening social infrastructure alongside industrial growth, including a large hospital for tribal communities, a digital university and a research-focused hospital. The proposed research facility, he said, could focus on developing medicines for major diseases, including cancer.
The Vedanta chairman said the broader objective was to accelerate industrialisation in Odisha while generating employment opportunities and expanding economic activity across the state.
