Assam CM Holds Talks With Vedanta For Investment Of Rs 50,000 Crore In State

Assam Chief Minister Himanta Biswa Sarma on Monday held discussions with private sector energy major Vedanta Group to prepare a detailed plan for the announced investment of Rs 50,000 crore in the state.

In February, Vedanta Group Chairman Anil Agarwal had announced that the firm would pump in Rs 50,000 crore in Assam and Tripura's oil and gas sector over the next three to four years.

"At #AdvantageAssam2 we received investment commitments of Rs 5.19 lakh crore, of which the Vedanta Group has set a target of investing Rs 50,000 cr in the State," Sarma said in a post on X, formerly known as Twitter.

"Today I had an extensive meeting with representatives from Vedanta to chalk out a time frame on realising these investments, particularly in the field of energy exploration and drilling," he added.

The Assam government is according the highest priority to ensure that a majority of the big ticket investment proposals take off this fiscal, the CM said.

Announcing the investment at the inaugural function of the Advantage Assam investment summit here, Agarwal had said group firm Cairn Oil & Gas already invested around Rs 2,500 crore in the two states of Northeast.

"With such an investment, we will produce 1,00,000 barrels of oil and gas per day, making the region a dominant hydrocarbon hub. It will also create direct and indirect employment opportunities for 1 lakh youths," he had said.

Cairn presently holds an acreage of 7,650 sq km in the Arakan basin in Assam and its footprint includes a portfolio of 15 exploration blocks.

Agarwal had said that its Hazarigaon field in Assam has been under production since 2023, the first of the company in Northeast, and it has been supplying gas to the neighbouring tea estates.