Vedanta announces ₹1 lakh crore investment in Rajasthan; aims to create 2 lakh jobs
London: Vedanta participated in the Rising Rajasthan roadshow organized in the U.K., led by the Hon'ble Chief Minister of Rajasthan, Bhajan Lal Sharma. During the event, Vedanta Group Chairman, Anil Agarwal, discussed the previously announced investment of over ₹1 lakh crore in Rajasthan, targeting sectors like zinc, oil and gas, and renewable energy. This investment aims to generate over 2 lakh jobs, foster more than 500 downstream industries, and reduce imports across various sectors.
Vedanta's Hindustan Zinc will invest ₹30,000 crore to increase its zinc production capacity from 1.2 MTPA to 2 MTPA, expand silver production from 800 tonnes to 2,000 tonnes, and establish a 1 MTPA fertilizer plant. Additionally, Vedanta announced plans to establish an industrial park for small and medium-sized industries on a non-profit basis around the Udaipur region, at a cost of over ₹5 crore. This initiative will lead to the creation of vast industrial complexes for downstream industries, capitalizing on the hundreds of applications for zinc and silver, which are essential in sectors like automotive, electricity, infrastructure, and railways.
Cairn Oil & Gas plans to invest ₹35,000 crore to increase production capacity to 3 lakh barrels per day. Meanwhile, Serentica Renewables will invest ₹50,000 crore to develop 10,000 MW of renewable energy capacity, supporting the energy transition and promoting green manufacturing in line with the highest environmental standards.
Discussions were also held regarding Govardhan development, and a detailed presentation was given on *Krishna Bhumi Vikas*. This project focuses on developing significant religious sites, such as 'Punchri Ka Lautha,' along with other associated pilgrimage structures, with the support of the Vedanta Group.
The Hon'ble Chief Minister of Rajasthan, Bhajan Lal Sharma, stated, "The new double-engine government of Rajasthan is committed to the Hon'ble Prime Minister's vision of a developed India by 2047. I invite countries from around the world to invest in Rajasthan and join us in building a prosperous future. I assure every entrepreneur investing in the state that our government will stand by them every step of the way."
Ahead of the *Rising Rajasthan* event, to be held in December 2024, detailed and productive discussions were held with Vedanta Chairman Anil Agarwal, who expressed his appreciation for the state's business-friendly policies. Agarwal has committed to doubling his investment in Rajasthan, bringing it to ₹1 lakh crore. Discussions centered around advancing Vedanta’s ambitious projects in the state, including capacity expansions for Hindustan Zinc, Cairn Oil & Gas, and Serentica Renewables, which will generate more employment opportunities for the people of Rajasthan. The Chief Minister thanked Mr. Agarwal for his new investments and assured full government support for these projects.
Anil Agarwal, Chairman of Vedanta Ltd, remarked, "Rajasthan is one of the few states with vast reserves of hydrocarbons, along with other minerals such as lead, silver, gold, copper, potash, rock phosphate, marble, and high-quality stone. Hindustan Zinc and Cairn will lead exploration efforts in these areas, establishing manufacturing and processing plants, smelters, and recovering shale gas and tight oil. We are proud to collaborate with the state government to foster economic growth and improve the quality of life in the region. This new commitment lays the foundation for long-term development in Rajasthan, helping the state achieve its vision of a prosperous future."
This announcement not only strengthens Vedanta's position as a key partner in Rajasthan's development but also bolsters the state's potential to become a global center for metals, minerals, oil and gas, renewable energy, and industrial innovation.
