Vedanta to invest Rs 1 Lakh Crores in Rajasthan: Powering Rajasthan’s ambition of becoming a US$350 billion economy by 2030

London | Udaipur, 19^th October 2024: Vedanta participated in the Rising Rajasthan Roadshow in UK, which was led by Hon'ble Chief Minister Shri Bhajan Lal Sharma and a delegation of Rajasthan ministers. The Hon. Chief Minister met with Vedanta Chairman Anil Agarwal to discuss investments of more than Rs.1 lakh crores across zinc, oil and gas, and renewable energy by the Group. This will help to create more than 2 lakh jobs, develop more than 500 downstream industries across multiple areas, and support import substitution.

Hindustan Zinc will invest Rs.30,000 crores to double zinc capacity from 1.2 MTPA to 2 MTPA, silver from 800 tons to 2,000 tons, and set-up a 1 MTPA fertilizer plant. Vedanta also announced the setting up an industrial park around the Udaipur area on a non-profit basis, for small and medium scale industries from Rs. 5 crores onwards. This will create massive industrial complexes for downstream industries, as there are hundreds of applications of zinc and silver which are used in auto, power, infrastructure, railways and more.

Cairn Oil and Gas will invest Rs.35,000 crores to increase capacity to 3 lakh barrels per day. Serentica Renewables will invest Rs. 50,000 crores to develop 10,000 MW renewable power capacity to support the above investments, aid energy transition and ensure highest environmental standards and green manufacturing.

Discussions were also held in relation to Govardhan development and a detailed presentation was given on Krishna Bhoomi Vikas to develop important religious locations such as 'Poonchhari Ka Lautha' and other allied structures of the pilgrimage with the help of Vedanta Group.

Hon'ble CM of Rajasthan Shri Bhajan Lal Sharma said, "Rajasthan's new double engine government is committed to the Hon'ble Prime Minister's vision of a Viksit Bharat by 2047. I invite the world to come and invest in Rajasthan and join us in building a prosperous future. I want to assure every entrepreneur investing in the state that our government stands with them at every step.

Ahead of the Rising Rajasthan event being held in December 2024, we had a highly productive discussion with Vedanta Chairman Shri Anil Agarwal, who is impressed by our business-friendly policies. He has joined hands with our government to double his investment in Rajasthan and further strengthen the state's business proposition by investing Rs 1 lakh crore. Our discussions focused on the Group's ambitious investments in the state for capacity expansion of Hindustan Zinc, Cairn Oil & Gas and Serentica Renewables, which will create more jobs for the people of the state. I take this opportunity to thank Shri Agarwal for this new investment and ensure that the State Government will provide full support towards development of these projects."

Shri Anil Agarwal, Chairman, Vedanta Ltd, commented, "Rajasthan is one of the few states which has hydrocarbons and a vast number of critical minerals such as zinc, lead, silver, gold, copper, potash, rock phosphate, marble, different types of high-quality stones, and others. Hindustan Zinc and Cairn will lead exploration efforts across each of these minerals, providing investments, setting up manufacturing & processing plants, creating smelters and recovering shale gas and tight oil. We are honoured to work alongside the state government to boost economic development and enhance the quality of life in the region. With this new commitment, we aim to lay a foundation for long-term growth for the state that will help achieve its vision of a prosperous future."

This announcement not only reaffirms Vedanta's position as a key partner in Rajasthan's development but also strengthens the state's potential to become a global hub for metals, minerals, oil & gas, renewable energy and industrial innovation.

Hindustan Zinc Limited (BSE: 500188 and NSE: HINDZINC), a Vedanta Group company, is the world's second-largest integrated zinc producer and the third-largest silver producer. The company supplies to more than 40 countries and holds a market share of about 75% of the primary zinc market in India. Hindustan Zinc has been recognized as the world's most sustainable company in the metals and mining category by the S&P Global Corporate Sustainability Assessment 2023, reflecting its operational excellence, innovation, and leading ESG practices. The company also launched EcoZen Asia's first low carbon 'green' zinc brand. Produced using renewable energy, EcoZen has a carbon footprint of less than 1 tonne of carbon equivalent per tonne of zinc produced, about 75% lower than the global average. Hindustan Zinc is also a certified 2.41 times Water-Positive company and is committed to achieving Net Zero emissions by 2050 or sooner. Transforming the lives of 1.9 million people through its focused social welfare initiatives, Hindustan Zinc is among the Top 10 CSR companies in India. As a world leader in the metals and mining industry, by Hindustan Zinc is pivotal in providing critical metals essential for the global energy transition for a sustainable future

Learn more about Hindustan Zinc on - https://www.hzlindia.com/home/ and follow us on LinkedIn,  Twitter,  Facebook, and Instagram for more updates.

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