Vedanta-LG’s INR 16k crore electronics project in Mihan to create fresh demand for aluminium

Vedanta Group, one of the world’s leading diversified natural resources company with interest in aluminium value chain, is mulling an INR 16,000-crore worth electronics product manufacturing facility in Mihan, Nagpur. The project will be set up under Twinstar- a joint venture of Vedanta and its Korean partner LG. An official announcement to this effect was made by Maharashtra Chief Minister Devendra Gangadhar Fadnavis on Sunday, June 25.

On the occasion of the opening of a new railway overbridge, Fadnavis announced the project saying, “The company has already purchased land in Mihan and has applied to state and central governments for clearances. It will be the biggest investment in Mihan.”

As per the Memorandum of Understanding (MoU) signed between the company oficals and the state government, Vedanta-LG JV will manufacture electronic hardware at Mihan. The use of aluminium in electronic goods is increasing steadily. It is used in laptops and mobile devices in large quantities. Projects like this one would create further demand for the metal in the electronics segment.

The company is going to start the facility under the central government’s Make in India scheme. The MoU was signed in Nagpur in presence of Prime Minister Narendra Modi.

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The Mihan project, on completion, is expected to create large number of jobs. Maharashtra is witnessing significant infrastructural overhaul and transformation. The Transport ministry is currently working on 22,000km length of national highways in the state.

"This will transform the entire state and create lot of jobs," Fadnavis added.