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Bengaluru, January 28, 2025: Vedanta Limited, a global leader in natural resources and technology, and a committed partner in Odishaº£½ÇÖ±²¥ 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 stateº£½ÇÖ±²¥ 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 Odishaº£½ÇÖ±²¥ 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 Odishaº£½ÇÖ±²¥ 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,Ìı“Odisha has always been integral to Vedantaº£½ÇÖ±²¥ growth story, and its resources have played an indelible role in Indiaº£½ÇÖ±²¥ 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.â€
Vedantaº£½ÇÖ±²¥ current investments have led to the creation of the worldº£½ÇÖ±²¥ 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 nationº£½ÇÖ±²¥ 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 companyº£½ÇÖ±²¥ 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 Odishaº£½ÇÖ±²¥ position as an industrial and economic powerhouse, contributing significantly to Indiaº£½ÇÖ±²¥ vision of becoming a global manufacturing leader while reaffirming Vedantaº£½ÇÖ±²¥ role as a catalyst in Odishaº£½ÇÖ±²¥ transformation and Indiaº£½ÇÖ±²¥ industrial evolution.
