MUMBAI - Vedanta will be investing Rs 1 lakh crore in Rajasthan across oil and gas, zinc and renewable energy operations in the state. This move is expected to create more than 2 lakh jobs in the state, but the company has not shared a timeline for this proposed investment.
Of this, an investment of Rs 30,000 crore will go into increasing the production capacity of zinc to 2 million tonne each year, and that of silver to 2,000 tonne. Hindustan Zinc, majorly owned by the company, is the country’s largest producer of zinc and silver. It will also be setting up a 1 million tonne fertilizer plant.
While Cairn Oil and Gas will invest Rs 35,000 crore to increase its capacity, Serentica Renewables will be investing Rs 50,000 crore to develop a renewable power capacity of 10,000 MW.
“Rajasthan is one of the few states which has hydrocarbons and a vast number of critical minerals such as zinc, lead, silver, gold, copper, potash, rock phosphate, marble, different types of high-quality stones, and others,” chairman Anil Agarwal said.
“Hindustan Zinc and Cairn will lead exploration efforts across each of these minerals, providing investments, setting up manufacturing & processing plants, creating smelters and recovering shale gas and tight oil,” he said.
On Friday, the company announced that it will be investing Rs 1 lakh crore in Odisha as well, where they will be setting up an alumina refinery of 6 million tonne and an aluminium plant of 3 million tonne. It is the largest producer of aluminium in the country, and operates a 3.5-million-tonne alumina refinery at Lanjigarh in the state. It also has a smelter at Jharsuguda, which has a capacity of 1.8 million tonne.
Of this, an investment of Rs 30,000 crore will go into increasing the production capacity of zinc to 2 million tonne each year, and that of silver to 2,000 tonne. Hindustan Zinc, majorly owned by the company, is the country’s largest producer of zinc and silver. It will also be setting up a 1 million tonne fertilizer plant.
While Cairn Oil and Gas will invest Rs 35,000 crore to increase its capacity, Serentica Renewables will be investing Rs 50,000 crore to develop a renewable power capacity of 10,000 MW.
“Rajasthan is one of the few states which has hydrocarbons and a vast number of critical minerals such as zinc, lead, silver, gold, copper, potash, rock phosphate, marble, different types of high-quality stones, and others,” chairman Anil Agarwal said.
“Hindustan Zinc and Cairn will lead exploration efforts across each of these minerals, providing investments, setting up manufacturing & processing plants, creating smelters and recovering shale gas and tight oil,” he said.
On Friday, the company announced that it will be investing Rs 1 lakh crore in Odisha as well, where they will be setting up an alumina refinery of 6 million tonne and an aluminium plant of 3 million tonne. It is the largest producer of aluminium in the country, and operates a 3.5-million-tonne alumina refinery at Lanjigarh in the state. It also has a smelter at Jharsuguda, which has a capacity of 1.8 million tonne.
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