Vedanta to invest Rs 1 Lakh Crores in Rajasthan: Powering Rajasthan’s ambition of becoming a US$350 billion economy by 2030

London: Vedanta participated in the Rising Rajasthan Roadshow in UK, which was led by Hon’ble Chief Minister Shri Bhajan Lal Sharma and a delegation of Rajasthan ministers. The Hon. Chief Minister met with Vedanta Chairman Anil Agarwal to discuss investments of more than Rs.1 lakh crores across zinc, oil and gas, and renewable energy by the Group. This will help to create more than 2 lakh jobs, develop more than 500 downstream industries across multiple areas, and support import substitution.

Hindustan Zinc will invest Rs.30,000 crores to double zinc capacity from 1.2 MTPA to 2 MTPA, silver from 800 tons to 2,000 tons, and set-up a 1 MTPA fertilizer plant. Vedanta also announced the setting up an industrial park around the Udaipur area on a non-profit basis, for small and medium scale industries from Rs. 5 crores onwards. This will create massive industrial complexes for downstream industries, as there are hundreds of applications of zinc and silver which are used in auto, power, infrastructure, railways and more.

Cairn Oil and Gas will invest Rs.35,000 crores to increase capacity to 3 lakh barrels per day. Serentica Renewables will invest Rs. 50,000 crores to develop 10,000 MW renewable power capacity to support the above investments, aid energy transition and ensure highest environmental standards and green manufacturing.  

Discussions were also held in relation to Govardhan development and a detailed presentation was given on Krishna Bhoomi Vikas to develop important religious locations such as ‘Poonchhari Ka Lautha’ and other allied structures of the pilgrimage with the help of Vedanta Group.

Hon’ble CM of Rajasthan Shri Bhajan Lal Sharma said, “Rajasthan’s new double engine government is committed to the Hon’ble Prime Minister’s vision of a Viksit Bharat by 2047. I invite the world to come and invest in Rajasthan and join us in building a prosperous future. I want to assure every entrepreneur investing in the state that our government stands with them at every step.

Ahead of the Rising Rajasthan event being held in December 2024, we had a highly productive discussion with Vedanta Chairman Shri Anil Agarwal, who is impressed by our business-friendly policies. He has joined hands with our government to double his investment in Rajasthan and further strengthen the state’s business proposition by investing Rs 1 lakh crore. Our discussions focused on the Group’s ambitious investments in the state for capacity expansion of Hindustan Zinc, Cairn Oil & Gas and Serentica Renewables, which will create more jobs for the people of the state. I take this opportunity to thank Shri Agarwal for this new investment and ensure that the State Government will provide full support towards development of these projects.”

Shri Anil Agarwal, Chairman, Vedanta Ltd, commented, “Rajasthan is one of the few states which has hydrocarbons and a vast number of critical minerals such as zinc, lead, silver, gold, copper, potash, rock phosphate, marble, different types of high-quality stones, and others. Hindustan Zinc and Cairn will lead exploration efforts across each of these minerals, providing investments, setting up manufacturing & processing plants, creating smelters and recovering shale gas and tight oil.  We are honoured to work alongside the state government to boost economic development and enhance the quality of life in the region. With this new commitment, we aim to lay a foundation for long-term growth for the state that will help achieve its vision of a prosperous future."

This announcement not only reaffirms Vedanta’s position as a key partner in Rajasthan’s development but also strengthens the state’s potential to become a global hub for metals, minerals, oil & gas, renewable energy and industrial innovation.

About Vedanta Limited
Vedanta Limited (“Vedanta”), a subsidiary of Vedanta Resources Limited, is one of the world’s leading critical minerals, energy and technology companies spanning across India, South Africa, Namibia, Liberia, UAE, Saudi Arabia, Korea, Taiwan and Japan with significant operations in Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, Nickel, Aluminium, Power & Glass Substrate and foraying into electronics and display glass manufacturing. For two decades, Vedanta has been contributing significantly to nation building. Governance and sustainable development are at the core of Vedanta's strategy, with a strong focus on health, safety, and environment. Vedanta has put in place a comprehensive framework to be the ESG leader in the natural resources sector, is committed to reducing carbon emissions to net zero by 2050 or sooner and aims to spend $5 billion over the next 10 years to accelerate this transition. Giving back is in the DNA of Vedanta, which is focused on enhancing the lives of local communities. Anil Agarwal Foundation, the umbrella entity for Vedanta’s social initiatives, aims to spend Rs 5000 crore over the next five years on various social impact programs and its flagship project, Nand Ghar is setting up model anganwadis across India. Vedanta Ltd. ranked 3rd in the S&P Global Corporate Sustainability Assessment 2023, and has been listed in the Dow Jones Sustainability World Index. The company has also been certified as a Great Place to Work and Kincentric Best Employer 2023. Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange.

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Sonal Choithani
Chief Brand & Communications Officer
Hindustan Zinc Limited
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