London / Udaipur, 19 th October 2024: Vedanta participated in the Rising Rajasthan Roadshow in UK, which was led by Chief Minister Bhajan Lal Sharma and a delegation of Rajasthan ministers. The 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.

CM of Rajasthan Bhajan Lal Sharma said, “Rajasthan’s new double engine government is committed to the 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 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 and Gas and Serentica Renewables, which will create more jobs for the people of the state. I take this opportunity to thank Vedanta Chairman Anil Agarwal for this new investment and ensure that the State Government will provide full support towards development of these projects.”

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 Sensitivity: 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 and gas, renewable energy and industrial innovation.