Vedanta Limited, a global
leader in natural resources and technology, and a committed partner in Odisha’s
progress for more than two decades, today signed a memorandum of understanding
(MoU) worth Rs. 1 lakh crore with the Government of Odisha, on the opening day
of Utkarsh Odisha, the state’s global investment conclave organised in
Bhubaneswar. The MoU was signed in the presence of Shri Mohan Charan Majhi,
Hon’ble Chief Minister of Odisha and Shri Anil Agarwal, Chairman, Vedanta
Limited. This transformative commitment aims to accelerate Odisha’s industrial
growth by establishing world-class aluminium production facilities and
promoting sustainable development across the state.
The collaboration includes
the development of a 3 million tonnes per annum (MTPA) aluminium plant and an
aluminium park that is poised to emerge as a major hub for downstream producers
of aluminium products. Together, the announced initiatives will not only
further cement Odisha’s crucial role in the global aluminium value chain, but
will also generate 2 lakh employment opportunities and foster MSME growth
across sectors like automotive, power, construction, and logistics.
Shri
Anil Agarwal, Chairman, Vedanta Limited, remarked,
“Odisha has always been integral to Vedanta’s growth story, and its resources
have played an indelible role in India’s rise. This MoU represents a
significant step toward driving large-scale industrialization and
socio-economic development in the state, and a reiteration of our commitment to
its progress. We are proud to deepen our decades-long collaboration with the
Government of Odisha, ensuring sustainable growth, skill development, and a
better quality of life for millions in the state.”
Vedanta’s current
investments have led to the creation of the world’s largest single-location
aluminium smelter at Jharsuguda, in addition to a world-class alumina refinery
at Lanjigarh, which have helped make Odisha the Aluminium Hub of India. The
company also operates FACOR, among the nation’s leading producers of ferro
chrome, at Bhadrak, in addition to a growing mines portfolio across the state.
These operations have sparked the accelerated socio-economic progress of their
surrounding regions through the company’s focus on creating educational and
healthcare facilities, skill development centres, and Nand Ghars (modern
Anganwadi centres), ensuring inclusive development for Odisha's communities.
As the global demand for
aluminium is expected to double by 2030, this MoU strengthens Odisha’s position
as an industrial and economic powerhouse, contributing significantly to India’s
vision of becoming a global manufacturing leader while reaffirming Vedanta’s
role as a catalyst in Odisha’s transformation and India’s industrial evolution.
