Vedanta Aluminum on Friday signed memorandum of understanding (MoU) with two companies to set up their manufacturing units at the proposed Vedanta Aluminum Park in Jharsuguda, Odisha. The MoU was signed by Singhal Steel and Power Private Limited and SCOT-AL Metcon Private Limited. Odisha Industries Minister Sampad Chandra Swain and Additional Chief Secretary (Industries) Hemant Sharma were present on this occasion. Vedanta Aluminum said in a statement that the objective of setting up Vedanta Aluminum Park in Jharsuguda is to promote value addition and support the growth of MSMEs and strengthen Odisha’s presence as a global aluminum hub.
How many jobs will be created?
This initiative is expected to bring in new investments of more than Rs 500 crore and create approximately 1,500 direct and indirect employment opportunities. Speaking on the occasion, Swain said that this initiative strengthens Odisha’s presence as a leading industrial destination. Vedanta Aluminum Park will accelerate investment, generate large-scale employment and strengthen the manufacturing capacity of the state across sectors. Vedanta Aluminum Chief Executive Officer (CEO) Rajeev Kumar said the proposed park reflects the company’s commitment to move beyond primary production towards valued manufacturing. He said, “By enabling a strong downstream ecosystem, we aim to open new opportunities for industries, MSMEs and local entrepreneurs.
the area will develop
The proposed Vedanta Aluminum Park is an important step towards strengthening the industrial value chain of Odisha. Additional Chief Secretary (Industries) Hemant Sharma said that by combining infrastructure preparation with policy support, we are creating a platform that enables industries to grow efficiently and competitively. C. Chandru, CEO, Vedanta Jharsuguda, said the proposed park will not only strengthen the downstream ecosystem, but also generate sustainable livelihoods, promote entrepreneurship and contribute to the development of the region. The development of the first phase of Vedanta Aluminum Park, spread over approximately 56 acres, aims to bring together industrial capacity and investment intent to open new opportunities in the aluminum value chain.