Vedanta to invest ₹1 trn in Rajasthan to double production: Anil Agarwal

Vedanta Chairman Anil Agarwal said the latest investment will be used for the establishment of a zinc park to boost small and medium zinc manufacturing industries in the state

Mining major Vedanta Group on Wednesday announced plans to invest ₹1 trillion in Rajasthan to double its production across zinc, lead, silver, oil & gas, and renewable energy.

 

Speaking at the Pravasi Rajasthani Divas, Vedanta group Chairman Anil Agarwal said: "Rajasthan has abundant reserves of oil, gas, and minerals, giving it the potential to take India’s economy to even greater heights. Just as Punjab feeds the nation, Rajasthan has the capacity to supply the world with minerals and natural resources in the years to come."

 

The development comes on top of Vedanta’s investment of over ₹1.5 trillion in the state. The company said it has contributed nearly ₹3 trillion to the state and national exchequers over the past decade. Two of its flagship businesses, Hindustan Zinc Ltd, the world’s largest integrated zinc producer, and Cairn Oil & Gas, have their largest operations in Rajasthan. 

 

 

Agarwal said that the latest investment will be used for the establishment of a zinc park to boost small and medium zinc manufacturing industries in the state. Zinc International Industrial Park, with a capacity to host 200 new industries, will provide electricity, water, raw materials, and infrastructure, giving a major boost to MSMEs and downstream sectors, he added. Apart from that, the company also plans to set up north India's first phosphate fertiliser plant in Rajasthan.

 

Agarwal said that after acquiring Hindustan Zinc, production has increased tenfold, and today India is no longer an importer but a producer of silver. Silver is recovered as a by-product from the smelting and refining of zinc.  In October, the company also announced an additional ₹1 trillion investment in Odisha to build three new plants—one for ferro-alloys and two for aluminium—taking its total investment in the state to around ₹2 trillion. Chief Minister Mohan Charan Majhi has said that the investment is expected to create 100,000 direct and indirect employment opportunities in the state.