Vedanta Inks MoU Worth Rs. 1 Lakh Crore with Govt. of Odisha

BHUBANESWAR:
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 Mohan Charan Majhi, Chief Minister of Odisha and 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.

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.