Vedanta Group Announces Rs 80,000 Crore Investment in Northeast India
- Vedanta Group has announced Rs 80,000 crore investment in Northeast India, with Rs 50,000 crore for Assam.
- The investment spans sectors like oil & gas, minerals, power, and data infrastructure, aiming to create 1 lakh jobs.
- This move supports regional development and aligns with government efforts to boost Northeast India’s economy.
The Vedanta Group, led by Anil Agarwal, has announced an ambitious investment plan of Rs 80,000 crore aimed at enhancing economic growth in Northeast India. This commitment was revealed at the ‘Rising Northeast Investors Summit,’ highlighting the group's dedication to investing in this resource-abundant yet underdeveloped region.
Out of the total investment, Rs 50,000 crore is designated for Assam, a figure first mentioned during the Advantage Assam 2.0 summit earlier this year. The remaining Rs 30,000 crore will be distributed among Arunachal Pradesh, Nagaland, Tripura, Meghalaya, and Mizoram. The investment will support various sectors such as oil & gas, critical minerals, refining, power, renewable energy, optical fibre, system integration, transmission infrastructure, and data centers.
Vedanta's expansion efforts in the area are anticipated to create approximately 100,000 jobs and significantly impact the socio-economic landscape of the Northeast. Additionally, the group intends to expand its corporate social responsibility initiatives through programs like the modernized anganwadis under Nand Ghars focusing on the welfare of women and children, as well as handloom skill centers, digital education projects for women and children, and sports development initiatives.
Anil Agarwal, Non-Executive Chairman of Vedanta said, “The private sector is ready to be a partner for prosperity. Vedanta is fully committed to investment in the region which has the most amazing natural resources potential, from oil and gas to critical minerals and an exceptional pool of talented human resources”.
Assam is notable as the site of India’s first oil discovery and contains around 27 percent of the nation’s crude reserves. Vedanta’s subsidiary, Cairn Oil & Gas, currently operates the Hazarigaon field in Assam, providing natural gas to local tea estates and public transport, including 100 CNG buses in Guwahati. On the other hand, Arunachal Pradesh is home to the country’s highest graphite reserves and significant quantities of vanadium and rare earth elements.
