The Vedanta Group is set to invest an additional Rs 1 lakh crore into Odisha, a massive investment expected to create over 1 lakh direct and indirect employment opportunities, officials said on Thursday.
The planned investment will include a refinery, an aluminium park in Dhenkanal district, and a ferro-alloys plant to be established in the Keonjhar district, they said.
The additional Rs 1 lakh crore investment plan includes a Rs 2,000-crore ferro-alloys plant in Keonjhar and two new aluminium parks – one at Jharsuguda and another at a site identified – by the state government, they said.
The investment proposal was placed before the Odisha government by Vedanta Group Chairman Anil Agarwal, who met Chief Minister Mohan Charan Majhi in Bhubaneswar.
The conglomerate has already invested around Rs 1 lakh crore in the state.
Chief Minister’s Office, in a post on X, said, “In a major boost to #Odisha’s industrial growth, @Vedanta_Group will invest around Rs 1 lakh crore in the state, creating over 1 lakh direct and indirect employment opportunities.”
In a major boost to #Odisha’s industrial growth, @Vedanta_Group will invest around ₹1 lakh crore in the State, creating over 1 lakh direct and indirect employment opportunities.
Vedanta Group Founder and Chairman Shri @AnilAgarwal_Ved met Hon’ble Chief Minister Shri… pic.twitter.com/BQxyFxDEGb
— CMO Odisha (@CMO_Odisha) October 23, 2025
“The state government has assured full support for these investments, including the provision of required land and other infrastructure facilities,” the CMO added in the post.
The proposed Rs 2,000-crore ferro-alloys plant in Keonjhar is intended to significantly boost Odisha’s position in the global metal value chain.
Additionally, the officials stated that the company’s aluminium park in Jharsuguda is already in an advanced stage of completion.
“These state-of-the-art parks will produce high-grade aluminium alloys suitable for use in aerospace, electric vehicles, and defence sectors, attracting large-scale downstream investments, and significantly boosting the MSME sector in Odisha,” a senior official said.
Chief Minister Mohan Charan Majhi said the state is now ready to emerge as a global hub for industry and technology.
“This massive investment will be a game-changer for the bright future of Odisha,” Majhi stated.
The CM stated that such initiatives will not only accelerate economic growth but also generate vast opportunities for the youth, setting the stage for Odisha to become a ‘$500-billion economy by 2036’.
Praising Majhi, Agarwal said, “I congratulate the chief minister for creating an investment-friendly environment in the state, further strengthened by the double-engine growth model. We are proud to be a long-term partner in Odisha’s growth story and are deeply committed to the state’s all-round development.”
Agarwal stated that the Vedanta Group is encourages young students, startup founders, and budding entrepreneurs in Odisha to invest in developing innovative applications of aluminium within its industrial parks.
“Vedanta will facilitate access to land, infrastructure, power and raw materials on a not-for-profit basis,” he added.
