Vedanta will invest Rs 1 lakh crore in Rajasthan, 2 lakh jobs will be created, know the company’s plan
Vedanta Group will invest over Rs 1 lakh crore in various businesses including zinc and oil and gas in Rajasthan. Vedanta Group said on Saturday that its Hindustan Zinc will invest Rs 30,000 crore to double zinc production capacity from 12 lakh tonnes per annum to 20 lakh tonnes per annum, increase silver capacity from 800 tonnes to 2,000 tonnes and set up a fertilizer plant with a capacity of 10 lakh tonnes per annum. Cairn Oil & Gas, a subsidiary of Vedanta Limited, will invest Rs 35,000 crore to expand its capacity to 3 lakh barrels per day.
Industrial park to be built near Udaipur
The company said in a statement that Vedanta Group’s unit Serantica Renewables will invest Rs 50,000 crore to develop 10,000 MW renewable energy capacity to help in energy transformation and ensure the highest environmental standards and green manufacturing. Vedanta also announced setting up an industrial park for small and medium industries on a non-profit basis around the Udaipur region at a cost of over Rs 5 crore. Vedanta participated in the ‘Rising Rajasthan Roadshow’ in the UK, which was led by Rajasthan Chief Minister Bhajan Lal Sharma and a delegation of state ministers.
2 lakh jobs will be created
The statement said that the Chief Minister met Vedanta Chairman Anil Agarwal and discussed the group’s investment of over Rs 1 lakh crore in zinc, oil and gas and renewable energy. This will help create over two lakh jobs, develop over 500 marketing industries in various sectors and support import substitution. “Rajasthan is one of the few states where apart from hydrocarbons, important minerals like zinc, lead, silver, gold, copper, potash, rock phosphate, marble, various types of high quality stones are found in abundance,” Agarwal said. Vedanta has so far invested over Rs 1.5 lakh crore in Rajasthan. Its two flagship companies Hindustan Zinc Ltd and Cairn Oil & Gas have their largest operations in the state.
