Vedanta Group lines up new investments of Rs 25,000 crore in Odisha: Anil Agarwal

BHUBANESWAR: Vedanta Group chairman Anil Agarwal on Wednesday said that the company has lined up new investments of more than Rs 25,000 crore for expansion of its aluminium, ferrochrome and mining business in the state.
Agarwal, who held one-to-one discussion with chief minister Naveen Patnaik at the Odisha Investors’ Meet in Mumbai, also hailed state’s investment climate and facilitation by the state government.
“Vedanta stands testimony to what is possible if you Make in Odisha. It is amongst the most favourable investment destinations in India, ably led by the stable governance, leadership and vision of Naveen Patnaik, which is reflected in the state’s ease of doing business rankings,” said an official statement quoting Agarwal.
The Vedanta Group chairman also said that the single window clearance system, 5T framework and focus on infrastructure projects have increased the investor community’s confidence in Odisha.
The Vedanta Group has made its single largest investment in Odisha till date in aluminium manufacturing value chain, ferrochrome, mining and value-addition to the tune of Rs 80,000 crore.
“With this quantum of investment, Vedanta is contributing nearly 4% to Odisha’s state GDP through its operations. The company has also created over 5 lakh livelihood opportunities and fostered hundreds of MSMEs in the state,” said Agarwal.
To promote downstream industries in aluminium sector, the Vedanta Group chairman said that the company has been setting up one of the largest aluminium parks near its smelter Jharsuguda, which will help to generate jobs.
“It heartens us to see our investment in Jharsuguda turn the district into a vibrant industrial hub with an airport. Odisha’s rich culture, technically skilled manpower and natural resource sector have contributed significantly to boost the GDP of the nation,” said Agarwal.
The Vedanta chairman also highlighted various activities of the company in the state taken up under the corporate social responsibility.