Vedanta Group to Invest Additional ₹1 Lakh Crore in Odisha

The Vedanta Group will invest an additional Rs 1 lakh crore in Odisha, creating over one lakh direct and indirect employment opportunities, officials said on Thursday.

The proposed investment includes a refinery, an aluminium park in Dhenkanal district and a ferro-alloys plant in Keonjhar district, they said.

The plan includes a Rs 2,000-crore ferro-alloys plant in Keonjhar and two new aluminium parks – one at Jharsuguda and another at a site identified by the state government, they said.

The investment proposal was on Thursday placed before the Odisha government by Vedanta Group Chairman Anil Agarwal, who met Chief Minister Mohan Charan Majhi here.

The company has already invested around Rs 1 lakh crore in the state.

“In a major boost to #Odisha’s industrial growth, @Vedanta_Group will invest around Rs 1 lakh crore in the state, creating over 1 lakh direct and indirect employment opportunities,” the Chief Minister’s Office said in a post on X.

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

The Rs 2,000-crore ferro-alloys plant will come up in Keonjhar to enhance Odisha’s standing in the global metal value chain, it said.

The company’s aluminium park at Jharsuguda is in an advanced stage of completion, the officials said.

“These state-of-the-art parks will produce high-grade aluminium alloys suitable for use in aerospace, electric vehicles, and defence sectors, attracting large-scale downstream investments, and significantly boosting the MSME sector in Odisha,” a senior official said.

Chief Minister Mohan Charan Majhi said Odisha is now poised to emerge as a global hub for industry and technology.

“This massive investment will be a game-changer for the bright future of Odisha,” he asserted.

The CM said such initiatives will not only accelerate economic growth, but also create vast opportunities for the youth, and prepare the ground for Odisha to become “a USD 500-billion economy by 2036”.

Hailing Majhi, Agarwal said, “I congratulate the chief minister for creating an investment-friendly environment in the state, further strengthened by the double-engine growth model. We are proud to be a long-term partner in Odisha’s growth story and are deeply committed to the state’s all-round development.” Agarwal said the Vedanta Group encourages young students, startup founders and budding entrepreneurs of Odisha to invest in developing innovative applications of aluminium at its industrial parks.

“Vedanta will facilitate access to land, infrastructure, power and raw materials on a not-for-profit basis,” he added.