Argus News - Vedanta To Invest Rs1 Lakh Crore In Odisha, Create 1 Lakh Jobs

Bhubaneswar, Oct 23: Vedanta Group Chairman Anil Agarwal on Thursday called on Odisha Chief Minister Mohan Charan Majhi at Lok Seva Bhawan here and announced a Rs1 lakh crore investment plan across the state, officials said.

The initiative is expected to generate over 1 lakh direct and indirect employment opportunities, marking one of the largest industrial commitments in Odisha’s history.

Mega Projects To Be Established

During the meeting, Vedanta revealed plans to establish an ultra-modern Ferro-Alloy Plant worth Rs 2,000 crore in Keonjhar, aimed at strengthening Odisha’s position in the global metal value chain. Additionally, the company will set up two new Aluminium Parks — one near its existing facility in Jharsuguda and another at a location to be finalized by the state government.

These parks will produce high-grade aluminium alloys for aerospace, electric vehicles, and defence sectors, attracting significant downstream investments and boosting the MSME ecosystem.

Vision for Viksit Bharat

Chief Minister Majhi welcomed Vedanta’s proposals and reiterated the state’s commitment to realizing the Prime Minister’s vision of “Viksit Bharat”. He emphasized that such large-scale investments would accelerate Odisha’s journey toward becoming a $500 billion economy by 2036, while empowering youth and expanding job opportunities.

The Chief Minister said that Odisha is now poised to emerge as a global hub for industry and technology. Calling the projects “game-changers,” the CM assured full support, including land allocation and infrastructure facilitation, to ensure timely execution.

Also Read: CM Majhi Launches Multiple Development Projects Worth Rs1,100 Crore For Nuapada

Gratitude and Support

Chairman of Vedanta Group, Anil Agarwal thanked Chief Minister Majhi and the state administration for their continuous support to Vedanta’s industrial projects in Odisha.

Key Officials Present At The Meeting

Chief Secretary Shri Manoj Ahuja, Additional Chief Secretary of Industries Department Hemant Sharma, Additional Chief Secretary of Mining & Steel Department Surendra Kumar, and Principal Secretary to Chief Minister Saswat Mishra were, among others, present at the meeting.