Vedanta to invest ₹1 lakh crore in Odisha, boosting aluminium production and employment opportunities
OdishaPlus Bureau
On October 18, Vedanta Ltd, a leading mining company, revealed its intention to invest Rs 1 lakh crore in Odisha. This investment marks the largest financial commitment ever made in the eastern state and is expected to generate 2 lakh new employment opportunities. The funds will be allocated for the construction of 6 million tons per annum alumina refinery and 3 million tons aluminium manufacturing facility, with an emphasis on producing green aluminum utilizing renewable energy sources. This announcement was made during the ‘Utkarsh Odisha’ roadshow as part of the Make in Odisha Conclave 2025.
Vedanta has stated that this initiative will establish a significant industrial complex for downstream industries, given the extensive applications of aluminum across the automotive, power, construction and railway sectors. The investment is expected to generate opportunities for thousands of micro, small and medium enterprises (MSMEs). Vedanta further noted that as aluminum is considered the metal of the future, its demand is projected to double by 2030.
As a subsidiary of UK-based Vedanta Resources, the company has invested over Rs 1 lakh crore in Odisha over the past two decades, resulting in the creation of more than 100,000 jobs in the region. Additionally, Vedanta has secured the Sijimali mines through auctions, which represent one of the largest bauxite deposits in the state.
Anil Agarwal, Chairman of Vedanta, remarked on the recent developments: “Odisha has consistently been a pivotal factor in Vedanta’s expansion. Our investments signify our dedication to the state’s comprehensive growth and the promotion of extensive industrialization”.
Mohan Charan Majhi, the Chief Minister of Odisha, stated, “The new double engine government of Odisha is fully aligned with the Prime Minister’s vision of a developed India by 2047. We are extending an invitation to global investors to engage with the emerging Odisha, as we aim to establish a half-trillion-dollar economy by 2030. In January 2025, we will host the ‘Utkarsh Odisha’ event as part of the Make-in-Odisha initiative, and during today’s pre-event roadshow, we had a productive discussion with Vedanta’s chairman, Anil Agarwal, who expressed admiration for our robust policy framework”.
“He has partnered with our government to double their investment in Odisha, committing an additional Rs 1 lakh crore, which includes the establishment of a new 6 million ton alumina refinery and a 3 million ton smelter, thereby generating more employment opportunities for the state’s residents,” he further noted.
