Vedanta to infuse $3 billion in Odisha to expand its aluminium, ferrochrome and mining business
On 14th September 2022, Anil Agarwal, the Chairman of Vedanta Resources stated that his company has new investments of more than USD$3 billion (INR 25,000 crore), as it has plans to expand its aluminium, ferrochrome, and mining businesses in Odisha.
The founder of Vedanta Resources made this announcement while meeting, Naveen Patnaik, the Chief Minister of Odisha on the side-lines of the ‘Make in Odisha-2022’ roadshow in Mumbai.
Anil Agarwal said, "We (Vedanta) stand testimony to what is possible if you Make it in Odisha. It is amongst the most favourable investment destinations in India, ably led by the stable governance, leadership, and vision of Naveen Patnaik, which is reflected in the state's Ease of Doing Business rankings.”
According to the company, “With this quantum of investment, it is contributing nearly four per cent to Odisha’s state GDP through its operations (direct and indirect).”
“The company has created over five lakh livelihood opportunities and fostered hundreds of MSMEs in the state.”
He further added, "We (Vedanta) stand testimony to what is possible if you make it in Odisha. It is amongst India's most favourable investment destinations, ably led by the stable governance, leadership, and vision of Naveen Patnaik, which is reflected in the state's Ease of Doing Business rankings."
“We are also setting up one of the largest aluminium parks in the country near our Jharsuguda smelter to boost the domestic aluminium downstream ecosystem. Odisha’s rich culture, skilled manpower and natural resource sector have contributed significantly to boosting the GDP of the nation.”
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