Vedanta aluminium signs MoUs with two firms, Rs 500 crore investment projected

Bhubaneswar: Vedanta Aluminium Metal signed memoranda of understanding (MoUs) with two manufacturing companies in Bhubaneswar on Friday to set up downstream units at its upcoming aluminium park in Jharsuguda, a move aimed at boosting value addition and employment in Odisha. The project is expected to attract investments of over Rs 500 crore and generate around 1,500 direct and indirect jobs.

The company entered into agreements with Singhal Steel and Power Pvt Ltd, a unit of Singhal Group of Industries, and Scot-Al Metcon Pvt Ltd, an associate company of Scottish Chemical Industries and UAL Industries, in the presence of industries minister Sampad Chandra Swain and the department’s additional chief secretary Hemant Sharma.

Vedanta said the proposed park will serve as a dedicated industrial ecosystem for downstream aluminium industries, supporting MSMEs and strengthening Odisha’s position as a global aluminium hub.

Phase-I of the aluminium park will span about 56 acres. Vedanta said the facility is envisioned as a flagship downstream manufacturing hub that will help industries reduce logistics costs, energy consumption and production time, while contributing to Odisha’s socio-economic development.

The industries minister said the initiative would reinforce Odisha’s position as a leading industrial destination by accelerating investments and creating large-scale employment.

Sharma said the proposed park would help deepen the state’s industrial value chain by combining infrastructure readiness with policy support, enabling downstream industries to scale efficiently.

Rajiv Kumar, CEO of Vedanta Aluminium Metal, said the park reflected the company’s push towards value-added manufacturing beyond primary aluminium production. “By enabling a strong downstream ecosystem, we aim to unlock opportunities for the local entrepreneurs,” he said.

Vedanta Jharsuguda CEO C Chandru said the park would strengthen the regional industrial ecosystem while creating sustainable livelihoods and promoting entrepreneurship in the area.



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