Vedanta Plans to Establish Aluminium and Silver-Zinc Industrial Parks in India
Vedanta, the Indian multinational mining giant, has announced plans to develop two new industrial parks focused on aluminium and silver-zinc production. The news was shared by Vedanta's chairman, Anil Agarwal, on LinkedIn on August 28, where he hinted at future projects for similar parks in the oil & gas and iron & steel sectors.
In his post, Agarwal emphasized that these parks will be established on a not-for-profit basis, aiming to foster growth in various industrial sectors across India. "For India, industrial parks are a good way to achieve scale in different sectors and across the value chain. They will be transformative not just for entrepreneurs but also employees and workers who can avail of best-in-class townships and facilities that will come up around the cluster," Agarwal wrote.
Vedanta is committed to ensuring that these industrial parks have access to a reliable supply of raw materials and renewable energy, which are critical for their operations.
Currently, Vedanta operates an aluminium park in Jharsuguda, which includes an aluminium smelter and power plants. This park is designed to attract downstream companies, creating a comprehensive aluminium ecosystem.
Vedanta's expansion plans come on the back of strong financial performance. In the first quarter of FY2024-25, the company reported a consolidated net profit of INR 3,606 crore ($433 million), a 36.59% increase from INR 2,640 crore ($317 million) in the same period last year. Revenue from operations also saw a 5.6% year-on-year rise, reaching INR 35,239 crore ($4.23 billion) compared to INR 33,342 crore ($4 billion) previously.
