Vedanta To Invest Rs 1,200 Crore In Development Of Odisha Aluminium Plant
The fund will be spent through the existing Lanjigarh Periphery Area Development Fund and the proposed Sijimali Periphery Area Development Fund.
(Photo source: Vedanta website)
Vedanta Aluminium Ltd. has planned to spend Rs 1,200 crore in the next 25 years for development of the periphery area of its Lanjigarh plant and Sijimali mine in Odisha's Kalahadi and Rayagada district, a company official said on Wednesday.
The fund will be spent through the existing Lanjigarh Periphery Area Development Fund and the proposed Sijimali Periphery Area Development Fund in the two districts with the inclusion of public representatives of both districts for developing the region, the company said in a statement.
The Sijimali bauxite block, spread over the two adjoining districts, will generate a whopping revenue of Rs 2,200 crore per annum in favour of the public exchequer of Odisha, it said.
Besides, more than 1,500 direct and indirect job opportunities can be created around the periphery, claimed the company.
"Since Vedanta considers mother earth as a stakeholder, the already blessed green cover will work as a bio-filter that will hold the entire eco-system by preventing soil erosion and maintaining the flora and fauna of the region," said Sunil Gupta, chief operating officer of Vedanta Aluminium, in the statement.
