Vedanta The group will invest more than Rs 1 lakh crore in various businesses including zinc and oil and gas in Rajasthan. Vedanta Group on Saturday said that its Hindustan Zinc is doubling its zinc production capacity from 12 lakh tonnes per annum to 20 lakh tonnes per annum, increasing its silver capacity from 800 tonnes to 2,000 tonnes and fertilizer production capacity of 10 lakh tonnes per annum. It will invest Rs 30,000 crore to set up the plant. Cairn Oil and Gas, a subsidiary of Vedanta Limited, will invest Rs 35,000 crore to increase the capacity to three lakh barrels per day.
Industrial park will be built near Udaipur
Vedanta Group unit Cerentika Renewables will invest Rs 50,000 crore to develop 10,000 MW of renewable energy capacity to help drive energy transformation and ensure the highest environmental standards and green manufacturing, the company said in a statement. Vedanta also announced setting up an industrial park at a cost of over Rs 5 crore for small and medium industries on a not-for-profit basis around the Udaipur area. Vedanta participated in the ‘Rising Rajasthan Roadshow’ in the UK, led by Rajasthan Chief Minister Bhajan Lal Sharma and a delegation of state ministers.
2 lakh jobs will be created
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, the statement said. This will help in generating more than two lakh jobs, developing more than 500 marketing industries in various sectors and supporting import substitution. Aggarwal said, “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. Are.” Vedanta has so far invested more than Rs 1.5 lakh crore in Rajasthan. Its two major companies, Hindustan Zinc Limited and Cairn Oil & Gas, have their largest operations in the state.
