New Delhi, Oct 24 : The Vedanta Group has announced plans to invest ₹1 lakh crore in a series of industrial ventures in Odisha, a move expected to generate more than one lakh direct and indirect employment opportunities across the state, a senior official said on Thursday.
The announcement came after Vedanta Group Chairman Anil Agarwal met Chief Minister Mohan Charan Majhi at the state secretariat to discuss the company’s proposed projects. The Odisha government has assured full support for the investments, including land allocation and infrastructure development, the official added.
As part of the expansion, Vedanta will establish an ultra-modern Ferro-Alloys Plant in Keonjhar with an investment of ₹2,000 crore, aimed at strengthening Odisha’s position in the global metal value chain.
Additionally, the group will set up two new Aluminium Parks in the state one adjacent to its Jharsuguda Aluminium Plant, and another at a site identified by the state government. These state of the art facilities will manufacture high-grade aluminium alloys catering to the aerospace, electric vehicle, and defence sectors, attracting significant downstream investment and stimulating growth in the MSME ecosystem.
Following the discussions, Chief Minister Majhi said the government is committed to realizing the Prime Minister’s vision of “Viksit Bharat”, adding that major investments like Vedanta’s will accelerate Odisha’s journey toward becoming a global industrial hub.
“This massive investment will be a game changer for the bright future of Odisha,” CM Majhi said. “Such initiatives will accelerate economic growth, create vast opportunities for youth, and set the foundation for Odisha to become a $500 billion economy by 2036.”
Vedanta Chairman Anil Agarwal expressed gratitude to the Chief Minister and the state administration for their continued support of Vedanta’s projects in Odisha.
The meeting was attended by Chief Secretary Manoj Ahuja, Additional Chief Secretary (Industries) Hemant Sharma, Additional Chief Secretary (Mining & Steel) Surendra Kumar, and Principal Secretary to the Chief Minister Saswat Mishra, among others.