Vedanta to invest Rs1 lakh cr in Rajasthan to ramp up output

New Delhi, Dec 10 (PTI) Anil Agarwal-led Vedanta Ltd on Wednesday announced that the company will pump in Rs one lakh crore in Rajasthan to double its production across its verticals.

Speaking at the Pravasi Rajasthani Divas, Agarwal said the group will double its production across zinc, lead, silver, oil & gas, and renewable energy through an investment of Rs one lakh crore, Vedanta said in a statement.

"Rajasthan has abundant reserves of oil, gas, and minerals, giving it the potential to take India's economy to even greater heights.

"Just as Punjab feeds the nation, Rajasthan has the capacity to supply the world with minerals and natural resources in the years to come," the Vedanta group chairman said.

The company is working to strengthen small and medium zinc manufacturing industries in the state through the establishment of a zinc park.

The chairman stated that the Zinc International Industrial Park, with a capacity to host 200 new industries, will provide electricity, water, raw materials, and infrastructure, giving a major boost to MSMEs and downstream sectors.

Additionally, Vedanta is setting up north India's first phosphate fertiliser plant in Rajasthan.

Vedanta has invested over Rs 1.5 lakh crore in Rajasthan so far, generating lakhs of jobs and contributing nearly Rs 3 lakh crore to the national and state exchequers over the past decade.

Agarwal added that after acquiring Hindustan Zinc, production has increased tenfold, and today India is no longer an importer but a producer of silver. PTI SID HVA