Hon'ble CM Of Odisha Inaugurates Vedanta Aluminium Park At J...| MENAFN.COM

Wednesday, 08 February 2023 11:10 GMT

Hon'ble CM Of Odisha Inaugurates Vedanta Aluminium Park At Jharsuguda

(MENAFN- ForPressRelease)

New Delhi; 1st December, 2022: Vedanta Limited, India's largest producer of aluminium, announced the foundation stone laying of the Vedanta Aluminium Park, at Jharsuguda, Odisha. The Hon'ble CM of Odisha, Shri. Naveen Patnaik unveiled the stone at the ongoing Make In Odisha 2022 conclave in the presence of Mr. Anil Agarwal, Chairman – Vedanta, thus inaugurating the Aluminium Park officially. The Park is a joint venture between Vedanta Aluminium and the Odisha Industrial Infrastructure Development Corporation (IDCO). Also present during the ceremony was Mr. Rahul Sharma, CEO – Vedanta Aluminium.

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. 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.

Spread over 253 acres, the Vedanta Aluminium Park will be one of India's largest metal parks. 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: Priority access to just-in-time high-quality hot metal in any desired quantity. This will boost productivity, provide production flexibility and increase cost-competitiveness to industries

Reduced time: With instant availability of hot metal, the time needed for transportation and remelting is curtailed, saving significant time and money.

Reduced working capital: Hot metal transported at the desired temperature will save both effort and cost associated with re-melting.

Technical and after-sales support: Access to Vedanta Aluminium's Centre of Excellence, R&D facility, and network of start-ups and global experts, will provide a significant competitive edge to manufacturers.

SEZ for export-oriented industries: The presence of an SEZ (special economic zone) Smelter at Vedanta's Jharsuguda complex is a unique advantage for export-oriented industries to access hot metal for producing their goods.

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.

Shri. Naveen Patnaik, Hon'ble CM of Odisha, 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 transformative governance 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, Mr. Anil Agarwal, Chairman – Vedanta, 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. Naveen Patnaik 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. Over the years, Vedanta has invested over 1 lakh crores and have created over 5 Lakh direct & 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.'

Mr. Rahul Sharma, CEO – Vedanta Aluminium, 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.

About Vedanta Limited

Vedanta Limited, a subsidiary of Vedanta Resources Limited, is one of the world's leading Oil & Gas and Metals company with significant operations in Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, and Aluminium & Power across India, South Africa and Namibia. 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. Vedanta is committed to reducing carbon emissions to zero by 2050 or sooner and has pledged $5 billion over the next 10 years to accelerate the transition to net zero operations. Giving back is in the DNA of Vedanta, which is focused on enhancing the lives of local communities. The company's flagship social impact program, Nand Ghars, have been set up as model anganwadis focused on eradicating child malnutrition, providing education, healthcare, and empowering women with skill development. Under the aegis of the Anil Agarwal Foundation, the umbrella entity for Vedanta's social initiatives, the Vedanta group has pledged Rs 5000 crore over the next five years on social impact programmes with a thrust on nutrition, women & child development, healthcare, animal welfare, and grass-root level sports. Vedanta and the group companies company have been featured in Dow Jones Sustainability Index, and was conferred Frost & Sullivan Sustainability Awards 2020, Golden Peacock Award for excellence in Corporate Governance 2022 and certified as a Great Place to Work 2022. Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange.

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