Vedanta to Invest Rs 1 Lakh Crore in Rajasthan, Boosting Industrial Growth and Employment

Jaipur, Dec 9 (KNN) Vedanta Group Chairman Anil Agarwal announced an ambitious plan to invest Rs 1 lakh crore in Rajasthan, aimed at boosting zinc and oil production and creating 5 lakh jobs.

The announcement was made at the ongoing Rising Rajasthan Global Investment Summit in Jaipur, which runs from December 9 to 11.

Agarwal revealed that the investment would primarily focus on the operations of Hindustan Zinc and Cairn India, the group's two major subsidiaries in the state. 

He highlighted that Vedanta had already invested Rs 1 lakh crore in these companies and was now poised to double that amount to further increase zinc and oil production. 

"This will provide significant employment opportunities and contribute to industrial development in Rajasthan," Agarwal said.

In addition to boosting production, Vedanta plans to set up a large industrial park in Rajasthan. The park, intended to nurture entrepreneurship, will offer space for businesses to invest between Rs 5 crore and Rs 500 crore. 

Agarwal emphasised that the park is not designed for profit but to encourage industrial growth and provide a platform for new ventures.

Rajasthan, with its abundant natural resources, including zinc, copper, oil, and gas, is poised for significant economic expansion, Agarwal noted. 

"The state is full of opportunities, with hardworking and capable people, and immense wealth beneath its soil," he said. He also praised the state’s progress, pointing out that many successful entrepreneurs from Rajasthan had gained global recognition.

Agarwal commended the support the company had received from the "double-engine government" led by the BJP, urging other businesses to follow suit and invest in the state. 

He also expressed optimism about the leadership of Rajasthan's new Chief Minister, who has introduced fresh perspectives focused on growth.

The Rising Rajasthan Global Investment Summit aims to showcase the state's potential as a thriving industrial hub and attract global investors to spur further growth and development across various sectors.

(KNN Bureau)