Vedanta Commits ₹1 Lakh Crore for New Aluminium Plant in Odisha

19 Oct 2024 , 01:50 PM

Vedanta Ltd announced on October 18 plans to invest ₹1 lakh crore in Odisha, marking the largest investment in the state’s history. This investment aims to create 2 lakh new jobs in Odisha.

The funds will be used to set up a 6 million tons per annum alumina refinery and a 3 million tons aluminium plant. The aluminium plant will focus on producing green aluminium using renewable energy, part of Vedanta’s sustainability goals.

Vedanta announced this plan during the Make in Odisha Conclave 2025 roadshow, known as “Utkarsh Odisha.”

The new industrial complex will support downstream industries, which use aluminium in sectors like automotive, power, construction, and railways.

Vedanta predicts that the demand for aluminium will double by 2030, making it the “metal of the future.” The investment will also create opportunities for MSMEs (Micro, Small, and Medium Enterprises) in the region.

Vedanta has been investing in Odisha for over two decades, with previous investments exceeding ₹1 lakh crore, creating 1 lakh jobs. Vedanta recently acquired the Sijimali mines, one of the largest bauxite deposits in Odisha.

Vedanta Chairman Anil Agarwal praised Odisha’s role in the company’s growth and commitment to industrialization. Odisha CM Mohan Charan Majhi highlighted the state’s target to become a half-trillion-dollar economy by 2030 and invited further investments through Make-in-Odisha initiatives.