Vedanta Limited, an Indian multinational mining company, is reportedly planning to establish two industrial parks, one for aluminium and one for silver and zinc. The news came on Wednesday, August 28, after Vedanta's chairman Anil Agarwal announced it on one of his LinkedIn posts, indicating a future plan for similar parks for the oil & gas and iron & steel sectors.
Chairman Anil Agarwal also noted on his social media post that the parks would be created on a not-for-profit basis. His post reads, "For India, industrial parks are a good way to achieve scale in different sectors and across the value chain. They will be transformative not just for entrepreneurs but also employees and workers who can avail of best-in-class townships and facilities that will come up around the cluster."
Vedanta has also ensured timely raw materials and renewable energy supply for the industrial parks.
As of now, Vedanta operates one aluminium park in Jharsuguda, which houses aluminium smelter and power plants. The park is designed to attract downstream companies to set up their plants and develop a complete aluminium ecosystem.
Vedanta Limited is seeing a rise in earnings, which is motivating the company to expand its business across all sectors. In Q1 FY2024-25, Vedanta generated a consolidated net profit of INR 3,606 crore, an increase of 36.59 per cent from INR 2,640 crore a year ago. The company's revenue from operations rose 5.6 per cent Y-o-Y to INR 35,239 crore against INR 33,342 crore.
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