Vedanta Shareholders and Creditors approve its demerger into 5 separate companies
The names of the five companies are Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Iron and Steel, Vedanta Limited.
Vedanta Group Chairman Anil Agarwal met Mohan Charan Majhi, the newly-appointed Chief Minister of Odisha, to extend his congratulations on the formation of the new government and to discuss the ongoing and future development of the state.
During the meeting, Chairman Agarwal reiterated Vedanta Group’s unwavering commitment to Odisha’s progress.
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The discussion focused on identifying new areas of collaboration that could further accelerate Odisha’s transformative journey, enhancing the state’s industrial and socio-economic development, Vedanta Group said in a press statement.
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Expressing his confidence in the new government’s vision and leadership, Anil Agarwal said, “Odisha’s remarkable growth is a testament to the sheer hard work and commitment of its people. The state has been crucial to Vedanta’s success, and we remain dedicated to its sustainable and inclusive development.”
“My meeting with Majhi Ji was highly productive, and we discussed our shared vision for Odisha’s growth. Under his capable leadership, our longstanding partnership will continue to thrive, driving the state to greater heights,” Agarwal said.
It is to be noted that the Vedanta Group has made significant investments in Odisha, amounting to more than Rs 1,00,000 crore. This is the conglomerate’s largest ever investment globally.
These investments have led to the establishment of the world’s largest integrated aluminium smelter plant at Jharsuguda with a capacity of 1.8 million tonnes per annum (MTPA) and a world-class alumina refinery at Lanjigarh in Kalahandi district with a capacity of 3.5 MTPA.
Through these initiatives, the group has created more than one lakh direct and indirect jobs, bringing prosperity to remote areas, and integrating local communities into the socio-economic mainstream.
Beyond business, Vedanta’s community development initiatives span livelihood, education, healthcare, infrastructure, grassroots sports and culture, benefiting more than 4.5 lakh people across 500 villages in Odisha.
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