The Business Bytes
TBB BUREAU
BHUBANESWAR, DEC 1, 2022
Odisha Chief Minister Naveen Patnaik on Thursday laid the foundation of a mega aluminium park, to be set up by Vedanta Ltd. at Jharsuguda.
The Chief Minister laid the foundation stone by pressing the button in presence of Vedanta Resources Ltd Chairman Anil Agarwal at the ongoung Make In Odisha 2022 Conclave here.
Vedanta’s aluminium smelter at Jharsuguda is one of the world’s largest aluminium smelters, with a capacity of 1.75 million tonnes per annum.
The project is a joint venture between Vedanta Aluminium and the Odisha Industrial Infrastructure Development Corporation.
The Vedanta Aluminium Park will be a world-class industrial facility where companies can set up their manufacturing units and draw hot metal (molten aluminium) from Vedanta’s smelter at Jharsuguda to manufacture their products.
Spread over 253 acres at Jharsuguda, the Vedanta Aluminium Park will be one of India’s largest metal parks, Agarwal said.
With its strategic location and features and a plethora of amenities, the Park will provide aluminium-based businesses unmatched advantage to exponentially grow their business, such as: Increased productivity, Reduced time, Reduced working capital, Technical and after-sales support, SEZ for export-oriented industries, and Environmental and carbon footprint.
Eliminating the need for re-melting or long-haul logistics, the Park will help curb significant carbon emissions to the tune of 60-70,000 tonnes per annum. It will also help industries produce low-carbon products and decarbonize their operations.
Speaking on the occasion, Chief Minister Naveen Patnaik said, “Odisha is fast emerging as a major investment destination in the country. We are a progressive state with clear focus on transformation in all sectors and inclusive development. At Odisha, we offer you better than the best services, support, and incentives – beyond the best in the country. Investor friendly initiatives and transformativegovernance put us on path of progress. We will continue to work with each of you and understand your requirements and provide the best support system.”
In his address, the Vedanta Resources Chairman said, “Today, the world looks to India as the next destination for manufacturing; and in India, Odisha is poised to become the go-to destination for investors in India, under the leadership of Shri. NaveenPatnaik Ji.”
“Odisha, with its natural advantages, is the Aluminium Capital of India today, and has the potential to become the Aluminium Capital of the world,” he added.
Agarwal further said that over the years, Vedanta has invested over Rs 1 lakh crore and have created over 5 lakh direct and indirect livelihood opportunities in the state; and now the Vedanta Aluminium Park will bring more downstream players to Odisha to maximize value addition and further deepen the industrialisation in the state.
“Odisha is the place where your dreams can come true – Jahan aapka sapna saakar ho sakta hai,” he added.
Speaking on the occasion, Vedanta Aluminium CEO Rahul Sharma said, “This collaboration between Vedanta and the Government of Odisha to create a world-class Aluminium Park near our aluminium smelter in Jharsuguda, will usher in a new era for Indian manufacturing. We take this moment to invite industries to set up their plants at our Aluminium Park, and leverage the plethora of advantages we have on offer. Together, we can join forces to make India the most sought-after manufacturing destination of the world.”
Vedanta Aluminium, a business of Vedanta Limited, is India’s largest producer of aluminium, manufacturing more than half of India’s aluminium i.e., 2.26 million tonnes in FY22. It is a leader in value-added aluminium products that find critical applications in core industries. Vedanta Aluminium ranks 4th in the Dow Jones Sustainability Index (DJSI) 2021 world rankings for aluminium industry, a reflection of its sustainable development practices. With its world-class aluminium smelters, alumina refinery and power plants in India, the company fulfils its mission of spurring emerging applications of aluminium as the ‘Metal of the Future’ for a greener tomorrow.
