MUMBAI, OCT 18
In a significant move to bolster Odisha’s economic ambitions, Vedanta Limited has pledged an investment of Rs 1 lakh crore, aimed at establishing a state-of-the-art 6 million tons per annum alumina refinery and a 3 million tons aluminium plant powered by renewable energy. This ambitious project is expected to create 2 lakh new job opportunities and support thousands of MSMEs.
Recently, Vedanta acquired the Sijimali mines through auctions, which house one of the largest bauxite deposits in the country.
During a meeting with Odisha Chief Minister Mohan Charan Majhi on Friday at the Make in Odisha Conclave 2025 roadshow, titled “Utkarsh Odisha,” Vedanta announced that this investment will not only enhance Odisha’s industrial landscape but also align with the state’s vision of achieving a half-trillion-dollar economy by 2030.
The new industrial complex is poised to drive growth in downstream industries, tapping into aluminium’s versatile applications across the automotive, power, construction, and railway sectors. Recognizing aluminium as the “metal of the future,” experts anticipate a doubling of its demand by 2030.
In addition to industrial growth, Vedanta’s investment will enhance community infrastructure. The company plans to collaborate with the Odisha government to establish educational institutions, hospitals, skill development centers, and Nandghars (community centers), benefiting the local population.
Chief Minister Majhi expressed enthusiasm about the partnership, stating, “Odisha’s double-engine government is committed to realizing the Hon’ble Prime Minister’s vision of a developed India by 2047. We invite global investments to transform Odisha into a thriving economic hub. This significant investment by Vedanta, including the new alumina refinery, will create vital job opportunities for our people. I extend my gratitude to Shri Anil Agarwal for this commitment and assure that our government will provide unwavering support for the development of these projects.”
Vedanta Chairman Anil Agarwal emphasized the company’s long-standing partnership with Odisha, saying, “Our investments demonstrate our dedication to the state’s inclusive growth and large-scale industrialization. Under the leadership of CM Majhi, we are excited to contribute to Odisha’s economic progress and enhance the quality of life for millions.”
The Vedanta Chairman also highlighted the vision for Rayagada to emerge as a highly developed industrial hub, similar to Jharsuguda. “Our investment reflects our unwavering commitment to Odisha’s inclusive growth and large-scale industrialization,” Agarwal stated.
This announcement not only reaffirms Vedanta’s role as a key partner in Odisha’s development but also strengthens the state’s potential to become a global hub for aluminium and industrial innovation.
