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Thursday, February 2, 2023
HomeNewsTop NewsVedanta, Jindal stainless to set up manufacturing parks in Odisha

Vedanta, Jindal stainless to set up manufacturing parks in Odisha

India’s Vedanta Aluminium and Jindal Stainless will be setting up manufacturing parks near their production sites in Odisha, while Essar Capital has announced plans to invest over ₹50,000 crore in the state, the companies said in separate statements on Thursday. The announcements were made at the ongoing Make In Odisha 2022 conclave.

India’s largest aluminium producer Vedanta Aluminium will be setting up an aluminium park near its flagship smelter at Jharsuguda through a joint venture with the Odisha Industrial Infrastructure Development Corp (IDCO).

Companies utilising aluminium for manufacturing can set up their production units at the 253-acre park and draw molten aluminium from Vedanta’s 1.75 million-tonne-a-year smelter. This will help reduce the energy consumption of these companies as they would not need to remelt aluminium purchased as solid slabs or bars.

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