Mining major Vedanta Group is set to invest an additional ₹1 trillion in Odisha, creating over 100,000 direct and indirect employment opportunities, the Chief Minister’s Office (CMO) said on Thursday. The group has already invested a similar amount in the state across various projects.
The announcement came after Vedanta Chairman Anil Agarwal presented the investment proposal to Chief Minister Mohan Charan Majhi in Bhubaneswar.
“The plan includes a ₹2,000 crore ultra-modern ferro-alloys plant in Keonjhar and two new aluminium parks — one at Jharsuguda and another at a site identified by the state government,” the CMO said in a post on X.
The CMO quoted Majhi as saying that such large-scale investments “will be a game-changer in Odisha’s journey towards becoming a $500-billion economy by 2036.”
Land acquisition and project timeline
Following his meeting with the chief minister, Agarwal said that land acquisition was underway and project work would begin in three to four months. He added that the projects would directly employ around 30,000–40,000 people and are expected to be completed within three to three-and-a-half years, according to OdishaTV.
The new investment strengthens Vedanta’s industrial presence in Odisha, where it already operates large aluminium and power facilities.
Doubling aluminium capacity
Last month, Rajiv Kumar, Chief Executive Officer for Vedanta’s aluminium business, said the company was acquiring land for a 3 million tonnes per annum (MTPA) aluminium smelter in Dhenkanal as part of its plan to double capacity from the current 3 MTPA.
“We want to go to six million tonnes, for which we are actively involved in land acquisition, and hopefully things are progressing very well,” he said at an event in New Delhi.
Foundation stone laid for ferrochrome plant
Also last month, Chief Minister Majhi laid the foundation stone for Vedanta Group firm Ferro Alloys Corporation’s (FACOR) ferrochrome plant in Bhadrak, marking another milestone in the company’s industrial expansion in the state.