Vedanta, a leading Indian multinational mining company, has announced plans to set up a 3 million tonne (MT) aluminium smelter in Odisha, effectively doubling its capacity. This move is expected to significantly boost the company’s aluminium production and cement its position as a major player in the industry.
The new smelter will be set up at a cost of around Rs 40,000 crore (approximately $5 billion USD) and is expected to create thousands of jobs, both directly and indirectly. The project is also likely to have a positive impact on the local economy, with the potential to generate significant revenue for the state government.
Vedanta’s decision to expand its aluminium capacity in Odisha is a strategic one, given the state’s abundant reserves of bauxite, a key raw material used in aluminium production. The company already operates a 1.5 MT aluminium smelter at Jharsuguda in Odisha, which is one of the largest such facilities in the country.
The new smelter will be equipped with state-of-the-art technology and will be designed to meet the highest standards of sustainability and environmental responsibility. Vedanta has committed to using renewable energy sources, such as solar and wind power, to meet a significant portion of the smelter’s energy requirements.
This expansion is part of Vedanta’s broader strategy to increase its aluminium production capacity to 5 MT by 2025. The company is also exploring opportunities to set up new aluminium smelters in other parts of the country, as it seeks to capitalize on the growing demand for aluminium in industries such as aerospace, automotive, and construction.
The Indian government has identified aluminium as a key sector for growth and development, and has announced a range of initiatives aimed at promoting the industry. These include incentives for investments in new aluminium smelters, as well as measures to increase the availability of raw materials and reduce logistics costs.
Overall, Vedanta’s decision to set up a new aluminium smelter in Odisha is a significant development for the Indian aluminium industry, and is expected to have a positive impact on the economy and employment opportunities in the region. With its commitment to sustainability and environmental responsibility, the company is well-positioned to play a leading role in the growth and development of the industry in the years to come.