Hindustan Zinc, a Vedanta group company, will fund Rs 30,000 crore to double zinc capacity from 1.2m tonnes per annum (MTPA) to 2 MTPA, silver production from 800 tonnes to 2,000 tonnes, and set up a 1 MTPA fertilizer plant.
On Saturday, Vedanta announced plans to invest over ₹1 lakh crore in Rajasthan across its various business verticals, including zinc production and oil & gas.
This substantial investment is expected to boost the state’s economy, create jobs, and promote industrial development.
Expansion of Zinc and Oil & Gas Production
Hindustan Zinc, a key company within the Vedanta Group, will invest ₹30,000 crore to significantly increase its zinc production capacity.
The company plans to double its output from 1.2 million tonnes per annum (MTPA) to 2 MTPA, and silver production will rise from 800 tonnes to 2,000 tonnes. Additionally, the investment includes the establishment of a 1 MTPA fertilizer plant.
Cairn Oil & Gas, another subsidiary of Vedanta Ltd., will contribute ₹35,000 crore to expand its oil production capacity to 300,000 barrels per day, further enhancing the company’s presence in Rajasthan’s oil sector.
Renewable Energy Investment by Serentica Renewables
Vedanta’s subsidiary, Serentica Renewables, will invest ₹50,000 crore to develop 10,000 MW of renewable power capacity.
This initiative aims to support Vedanta’s energy needs, accelerate the company’s transition to cleaner energy sources, and uphold environmental standards with green manufacturing practices.
Development of Industrial Park in Udaipur
In addition to these large-scale investments, Vedanta announced plans to establish an industrial park near Udaipur. This park, developed on a non-profit basis, will cater to small and medium-scale industries with starting investments from ₹5 crore.
The park aims to foster economic growth and provide a platform for smaller businesses to thrive.
Job Creation and Economic Impact
The cumulative investments of over ₹1 lakh crore will help create more than two lakh jobs and support the development of 500 downstream industries across multiple sectors.
It will also aid in reducing the country’s reliance on imports, thereby supporting local industries.
Vedanta’s investment announcement was made during the Rising Rajasthan Roadshow in the UK, led by Rajasthan Chief Minister Bhajan Lal Sharma.
The Chief Minister held discussions with Vedanta Chairman Anil Agarwal, focusing on the company’s role in transforming the state’s industrial landscape through these massive investments.
