Vedanta Group Chairman Anil Agarwal has announced a Rs 1 lakh crore investment drive in Odisha, spanning aluminium, mining, refining and downstream manufacturing. He made the announcement on Saturday, September 26, 2026, after meeting Odisha Chief Minister Mohan Charan Majhi.
The group aims to take the projects forward over the next two and a half to three years, subject to faster land allocation and government clearances. “Will make an investment of Rs 1 lakh crore,” Agarwal said, adding that projects could move ahead immediately if the government continued to cooperate. “If this government keeps cooperating like this, the work will move forward,” he said, noting that the pace of implementation would depend on the speed of land allotment and clearances.
Projects planned
Vedanta is looking to develop another refinery in Raigarh and a smelter, and to advance work on bauxite and aluminium production. It also plans to expand its existing operations in Jharsuguda. For the Jharsuguda expansion, Agarwal said the group is considering a 2 million tonne plant, with around 500 acres of land to be made available alongside the existing power plant. He said the expansion could generate at least 50,000 jobs directly and indirectly.
Building an aluminium ecosystem
Agarwal called for greater development of aluminium-based industries in Odisha, saying the state could attract small and medium enterprises producing components for automobiles, aviation, railways and other transport sectors. He said Vedanta would supply power and aluminium to industries setting up in the state, and wanted local people to be given employment priority.
Social infrastructure proposals
Agarwal also pitched for social infrastructure alongside industrial development, including a large hospital for tribal communities, a digital university and a research-oriented hospital. He said he wanted the research facility to work towards developing medicines for major diseases such as cancer, and that the focus should be on creating employment for tribal communities.
Context
The plan adds to Vedanta’s existing footprint in the state. In March 2025, Odisha’s High-Level Clearance Authority approved two Vedanta projects in Rayagada district: a Rs 50,537 crore, 6 million tonnes per annum alumina refinery and a Rs 40,991 crore greenfield 1.2 million tonnes per annum aluminium smelter.
