Bhubaneswar: In a major boost to industrial sector in Odisha, The Vedanta Group has announced to invest Rs 1 lakh crore in the state.

Vedanta Group chairman Anil Agarwal made this announcement during a meeting with Chief Minister Mohan Charan Majhi in the capital city here today.

“Vedanta plans to make a capital investment of around Rs 1 lakh crore in Odisha in the coming days. This investment will generate over 1 lakh direct and indirect employment opportunities across the state,” said the Chief Minister’s Office (CMO) in a statement.

The state government has assured full support for these investments, including the provision of required land and other infrastructure facilities, added the CMO.  

3 MTPA aluminium plant to come up in Dhenkanal

The aluminium major has planned to set up 3 MTPA aluminium plant in Odisha’s Dhenkanal. The proposed project is likely to create employment opportunities for around 40,000 people.

Also Read: Odisha: Vedanta to set up aluminium smelter, power plant in Dhenkanal with Rs 1.28 lakh crore investment

The company is ready to begin work for the project within three to four months of land allocation. The Chief Minister has assured the company to allocate land and facilitate all necessary clearance for the project within a month, said Agarwal. The company will complete work for the mega aluminium project within three to three and a half years, he added.

Company to set up 2 new aluminium parks in Odisha

The Vedanta Group will also set up two new aluminium parks in Odisha. One of these parks will be located near its aluminium plant at Jharsuguda, while another will come up at a site identified by the state government. These state-of-the-art parks will produce high-grade aluminium alloys suitable for use in aerospace, electric vehicles, and defence sectors. This will attract large-scale downstream investments and significantly boost the MSME sector in the state, said the CMO.

In addition to this, the company will invest Rs 2,000 crore an ultra-modern ferro-alloys plant in Keonjhar, it added.

Ready to set up university in Odisha, says Vedanta chief   

Agarwal also expressed his readiness to establish a university in Odisha. “Several states including Andhra Pradesh and Bihar are aggressively pursuing me for the university project. But, we are prioritizing the case of Odisha in this context. We need the support of the people of Odisha to set up the mega project with Rs 2 lakh crore investment,” he said.

Also read: Anil Agarwal makes fresh plea for Vedanta University at Odisha’s Puri amid Harvard row