Vedanta plans over Rs 1 lakh cr investment in Rajasthan

22 Oct 2024 CW Team

Vedanta has announced plans to invest over Rs 1 lakh crore in Rajasthan across various business sectors, including zinc and oil and gas. Hindustan Zinc, a Vedanta group company, will allocate Rs 30,000 crore to double its zinc production capacity from 1.2 million tonnes per annum (MTPA) to 2 MTPA, increase silver output from 800 tonnes to 2,000 tonnes, and establish a one MTPA fertilizer plant.

Cairn Oil & Gas, another subsidiary of Vedanta Ltd, is set to invest Rs 35,000 crore to boost its capacity to 300,000 barrels per day. Additionally, Serentica Renewables, part of the Vedanta Group, plans to invest Rs 50,000 crore to develop 10,000 MW of renewable power capacity, supporting energy transition and adhering to high environmental standards.

Vedanta also announced the creation of a non-profit industrial park around Udaipur to support small and medium enterprises, with investments starting at Rs 5 crore.

The announcement was made during the Rising Rajasthan Roadshow in the UK, led by Rajasthan Chief Minister Bhajan Lal Sharma, who met with Vedanta Chairman Anil Agarwal to discuss these significant investments. This initiative is expected to create over 200,000 jobs and develop more than 500 downstream industries, supporting import substitution.

Agarwal highlighted Rajasthan's rich resources, including hydrocarbons and critical minerals like zinc, lead, silver, and gold, and expressed commitment to working with the state government to enhance economic development and quality of life in the region.

To date, Vedanta has invested over Rs 1.5 lakh crore in Rajasthan, with Hindustan Zinc Ltd and Cairn Oil & Gas operating their largest facilities in the state.

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