Vedanta Group to invest Rs1 lakh crore in Rajasthan to double production of metals, oil & gas, and renewables

Jaipur (Rajasthan) [India], December 10 (ANI): Vedanta Group Chairman Anil Agarwal on Wednesday announced a whopping investment of Rs 1 lakh crore in Rajasthan to double production of zinc, lead, silver, oil & gas, and renewable energy.

During the first-ever Pravasi Rajasthani Diwas held in Jaipur, where Anil Agarwal was honoured with the "Pravasi Rajasthani Samman," he emphasised Rajasthan's potential to become a major hub for minerals and natural resources, citing its abundant reserves of oil, gas, and minerals.

During the event, Anil Agarwal made a major announcement stating the group will double its production across zinc, lead, silver, oil & gas, and renewable energy through an investment of Rs 1 lakh crore. Stating that India's journey toward becoming a developed nation will run through Rajasthan, he said, "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."

This move is expected to create over 2 lakh jobs and develop more than 500 downstream industries across multiple areas.

The Vedanta Group is working to strengthen the state's small- and medium-sized zinc manufacturing industry by establishing a Zinc Park. The Chairman stated that the Zinc International Industrial Park, with a capacity to host 200 new sectors, 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, an important step toward building a "Green Rajasthan."

Speaking to ANI on the sidelines of the event, Agarwal said, "Rajasthan has a lot of potential. Industries can be established here; it has potential for renewable energy. Rajasthan is going to be the most resourceful state."

The investment will be utilised to double Zinc production, increasing zinc capacity from 1.2 million tonnes per annum (MTPA) to 2 MTPA and silver production from 800 tonnes to 2,000 tonnes; Oil & Gas Expansion, augmenting oil & gas capacity to 3 lakh barrels per day and developing 10,000 MW of renewable power capacity.

In a release, the group said that under Agarwal's leadership, 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. He added that after acquiring Hindustan Zinc, production has increased tenfold, and today India is no longer an importer but a producer of silver.

He further added, "Rajasthan has not only given me opportunities but has shaped my identity. Coming back here always feels like returning home. I believe Rajasthan's role in energy, technology, and financial services will become even more influential in the future." He highlighted that the state has over 40 varieties of world-class stones that can be polished and finished for export to global markets.

Anil Agarwal has both emotional and economic ties to Rajasthan. Vedanta revived Hindustan Zinc, reopened several closed mines, and is establishing India's first modern Zinc Park to boost MSMEs.

Chief Minister Bhajanlal Sharma acknowledged Vedanta's ongoing investments and opportunities in Rajasthan. He recollected Anil Agarwal's belief that youth can work with investments ranging from Rs 2 crore to Rs 100 crore. He said the Government is creating opportunities for young entrepreneurs to establish businesses. "Through skill development, small and large industries will generate employment for youth," he said, urging young people to become job creators rather than job seekers.

Vedanta, through Cairn, is India's largest private oil producer, and its subsidiary Hindustan Zinc is the country's largest producer of zinc, lead, and silver, with operations primarily in Rajasthan. The Chief Minister added that the state's single-window and self-certification systems ensure fast, transparent approvals for investors.

Going further, he shared that girls are working underground at the Dariba mine, increasing production by up to 30 per cent, and that the country's first women-led rescue team, formed by young women here, has become a model across India. (ANI)

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