Vedanta Chairman Anil Agarwal meets Rajasthan CM Shri Bhajan Lal Sharma


Vedanta Chairman Anil Agarwal meets Rajasthan CM Shri Bhajan Lal Sharma

Rajasthan CM and Vedanta Chairman discuss a shared vision of robust growth & development powered by the natural resources sector

 
Chief Minister of Rajasthan and Vedanta Chairman discussed the shared vision of strong growth and development based on natural resources
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Jaipur, 7 July 2024: Anil Agarwal, Chairman of Vedanta Group, today met with Shri Bhajan Lal Sharma, the Hon’ble Chief Minister of Rajasthan, to discuss the state’s outlook and plans for the natural resources sector – metals, minerals, and oil & gas - which is crucial for creating large-scale employment opportunities and contributing to the state’s economic growth, as well as nation building.

Vedanta has made investments in excess of INR 1.50 Lakh Crore in Rajasthan to date. Two of its flagship businesses Hindustan Zinc Limited – the World’s second largest integrated Zinc producer and 3rd largest producer of Silver, and Cairn Oil & Gas, India’s largest private oil producer, have their largest operations in the state. In FY 24, Vedanta’s contribution to the State Exchequer was INR 10,000 Cr.

Reinforcing the Vedanta Group’s steadfast commitment to the State, Shri Anil Agarwal, Chairman of Vedanta Group, said, “Rajasthan is a national natural resources growth engine with the potential to power an Atmanirbhar Bharat across the minerals, metals, and oil & gas sectors. Both, the state of Rajasthan and Vedanta, are open to further collaboration aimed at fuelling India’s ambition of becoming self-reliant in natural resources and thus a global manufacturing hub. 

“My discussions with Shri Bhajan Lal Sharma were highly productive, sharing the vision of his government for the state’s growth centred around transparency, efficiency, and value to global investors. Under his leadership and our long-standing partnership, the government’s thrust on mineral exploration, value-addition, research & development, and innovation will lead to a glorious chapter in the legacy of this incredible state.” - Anil Agarwal, Chairman, Vedanta

Under Vedanta's leadership, Hindustan Zinc’s market capitalization since its disinvestment in 2002 has grown more than 400 times from about INR 650 crores (USD 100 million) to about INR 2,90,000 crores (USD 34 billion) and made the company a world leader. Hindustan Zinc is also recognised as the world’s most sustainable metals and mining company as per S&P Global.

Cairn Oil & Gas, also part of the Vedanta Group, contributes 25% of India's domestic crude production, a large part of which is from its operations in Barmer, Rajasthan. Cairn also recently implemented the largest commercial Alkaline Surfactant Polymer (ASP) flooding procedure in the high oil viscosity Mangala field in Barmer to enhance recovery from the matured field. Cairn is also executing the largest exploration project by any private company in India and has plans to drill exploration and development wells in Barmer in FY25.

Through these companies, Vedanta has created more than 50,000 direct and indirect job opportunities in Rajasthan. 

Beyond business, Vedanta has signed an MOU with the Government of Rajasthan to develop 25,000 Nand Ghars across the state which will positively impact the lives of 10 lakh children and 7.5 lakh women. Nand Ghars are modern-day, technology-enabled anganwadis developed by Vedanta which serve as holistic centres of learning and development for women & children from the community. Vedanta’s community development initiatives span women empowerment, sustainable livelihoods, education, healthcare, infrastructure, grassroots sports, and culture, benefiting about 2 crore people across Rajasthan. 

About Hindustan Zinc Limited

Hindustan Zinc Limited (BSE: HINDZINC 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. 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, Hindustan Zinc is pivotal in providing critical metals essential for the global energy transition for a sustainable future.

About Cairn Oil & Gas

Cairn Oil & Gas, part of Vedanta Limited, is India's largest private oil and gas exploration and production company, contributing about a quarter of India’s domestic crude oil production and driving energy security for India in a sustainable and responsible way.

With a world-class resource base, the company has an interest in 62 blocks in India spread over 60,000 square kilometres with gross 2P (Gross Proved Plus Probable Reserves) and 2C (Gross Contingent Reserves) of 1.4 bn boe. A pioneer in exploration and production, Cairn has spearheaded technological innovation with high-reward prospects. The company has producing assets across Rajasthan, Andhra Pradesh, Gujarat, and Assam. Over the last 30 years, Cairn has opened four frontier basins with numerous discoveries. Cairn is executing the largest exploration project by any private company in India, reinstating the faith in the country’s hydrocarbon potential. For more information, please visit www.cairnindia.com
 

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