Odisha stands as a testament to resilience and progress. Boasting rich mineral reserves, the state has emerged as a major manufacturing hub in India, supported by a dynamic industrial ecosystem. At the heart of this growth lies Odisha's thriving metals and mining sector, playing a pivotal role in the state's ascent.
Regarding the metals and mining sector, Vedanta's unwavering confidence in Odisha's vast potential is reflected in its significant presence and status as the state's largest investor, with a cumulative investment of INR 1,00,000 crores ((US$11.55 billion) — the company's largest global investment.
Vedanta Aluminium CEO Shri Gupta added, "Our latest investment of ₹1 lakh crore is a testament to our enduring belief in the state's potential to lead India's industrial revolution."
At the Utkarsh Odisha Global Investment Conclave, Vedanta Aluminium unveiled plans for INR 1 lakh crore investment to drive Odisha's industrial growth. The MoU, signed in the presence of Chief Minister Mohan Charan Majhi and Vedanta Chairman Anil Agarwal, paves the way for the establishment of a 3 MTPA aluminium plant and a cutting-edge aluminium park in Jharsuguda.
Covering 253 acres, the aluminium park is set to attract over 100 SMEs and MSMEs, generating two lakh employment opportunities and adding ₹4,500 crores in value to Odisha's economy. This landmark project will not only position Odisha as a global hub for aluminium manufacturing but also strengthen downstream sectors such as automotive, power, construction, and logistics.
"Our journey in Odisha has been nothing short of transformative. From breaking barriers with the country's first women-operated potline to fostering sustainable growth through our skill development and environmental initiatives, we are deeply committed to shaping Odisha's bright future," commented Vedanta Aluminium Chief Operating Officer (COO) Sunil Gupta.
At Jharsuguda, Vedanta operates a 1.8 million tonnes per annum (MTPA) aluminium smelter, recognised as the world's largest and the only Indian smelter in the prestigious global one million tonne club. Additionally, the company runs a state-of-the-art 3.5 MTPA alumina refinery in Lanjigarh, located in Odisha's Kalahandi district, further solidifying its leadership in the aluminium sector.
As a result, Vedanta's expansive production and supplier networks have nurtured the growth of over 20,000 MSMEs around its operations. Additionally, the company has initiated mining activities across several districts in Odisha, with each site potentially generating up to 10,000 direct and indirect livelihood opportunities. These efforts have been widely recognised for integrating remote regions into the socio-economic mainstream while contributing approximately 4 per cent to Odisha's Gross State Domestic Product (GSDP).
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