Vedanta has signed an agreement with the Odisha government to set up an aluminium park across 240 acres of land, adjacent to its aluminium smelter at Jhasarguda. The park has the potential to attract investment of Rs 1,000 crore and generate direct and indirect employment to about 17,000 people.
The Odisha government will provide the necessary infrastructure for setting up the industries with financial incentives. Both the company and the Odisha government will hold global road shows to attract investment.
The company would be able to sell aluminium in molten form to manufactures within the park, rather than supplying it in ingots or sheets, thus saving huge costs for both the company and the manufacturers. It would also make the production of aluminium products cost-efficient.
Vedanta is a diversified natural resources company, whose business primarily involves exploring and processing minerals and oil & gas. The Company produces oil & gas, zinc, lead, silver, copper, iron ore, aluminium and commercial power and has a presence across India, South Africa, Namibia, Ireland, Australia, Liberia and Sri Lanka.
| Company Name | CMP |
|---|---|
| Hindalco | 1038.95 |
| Vedanta | 787.60 |
| Hindustan Zinc | 592.35 |
| Jain Resource Recycl | 420.90 |
| Gravita India | 1639.80 |
| View more.. | |
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