Vedanta Group will invest over Rs 1 lakh crore in various businesses including zinc and oil and gas in Rajasthan. Vedanta Group said on Saturday that its Hindustan Zinc will invest Rs 30,000 crore to double zinc production capacity from 12 lakh tonnes per annum to 20 lakh tonnes per annum, increase silver capacity from 800 tonnes to 2,000 tonnes and set up a fertilizer plant with a capacity of 10 lakh tonnes per annum. Cairn Oil & Gas, a subsidiary of Vedanta Limited, will invest Rs 35,000 crore to expand its capacity to 3 lakh barrels per day.

Industrial park will be built near Udaipur

Vedanta Group unit Serentica Renewables will invest Rs 50,000 crore to develop 10,000 MW renewable energy capacity to help drive energy transformation and ensure the highest environmental standards and green manufacturing, the company said in a statement. Vedanta also announced setting up an industrial park for small and medium industries on a non-profit basis around the Udaipur region at a cost of over Rs 5 crore. Vedanta participated in the 'Rising Rajasthan Roadshow' in the UK, which was led by Rajasthan Chief Minister Bhajan Lal Sharma and a delegation of state ministers.

2 lakh jobs will be created

The statement said that the Chief Minister met Vedanta Chairman Anil Agarwal and discussed the group's investment of over Rs 1 lakh crore in zinc, oil and gas and renewable energy. This will help create more than two lakh jobs, develop more than 500 marketing industries in various sectors and support import substitution. Agarwal said, "Rajasthan is one of the few states where apart from hydrocarbons, important minerals like zinc, lead, silver, gold, copper, potash, rock phosphate, marble, various types of high quality stones are found in abundance." Vedanta has so far invested more than Rs 1.5 lakh crore in Rajasthan. Its two major companies Hindustan Zinc Limited and Cairn Oil and Gas have the largest operations in the state.