Vedanta has announced plans to invest Rs 1 lakh crore in Rajasthan, targeting its zinc, oil, gas, and renewable energy sectors. This massive investment is expected to generate over 2 lakh jobs, though the company has not provided a specific timeline for these developments.
The investment includes Rs 30,000 crore dedicated to expanding Hindustan Zinc’s annual production capacity to 2 million tonnes of zinc and 2,000 tonnes of silver. Hindustan Zinc, India’s largest producer of zinc and silver, is majority-owned by Vedanta. Additionally, the company plans to set up a 1 million tonne fertiliser plant in the state.
Cairn Oil & Gas, a subsidiary of Vedanta, will invest Rs 35,000 crore to increase its production capacity. Meanwhile, Serentica Renewables will channel Rs 50,000 crore into developing a 10,000 MW renewable energy capacity.
Vedanta’s chairman, Anil Agarwal, highlighted Rajasthan’s rich natural resources, including hydrocarbons, zinc, lead, silver, copper, and potash, positioning the state as a key player in India’s resource-based industries. Hindustan Zinc and Cairn Oil & Gas will spearhead exploration and development activities, with investments in manufacturing and processing plants, smelters, and shale gas recovery.
Vedanta recently announced a Rs 1 lakh crore investment in Odisha, where it plans to establish a 6 million tonne alumina refinery and a 3 million tonne aluminium plant. The company already operates a 3.5 million tonne alumina refinery in Lanjigarh and a 1.8 million tonne smelter in Jharsuguda.