Vedanta Resources, led by veteran industrialist Anil Agarwal will set up two industrial parks – one for aluminum and another for zinc and silver. Speaking about the industrial parks, Agarwal confirmed that these industrial parks would be created on a not-for-profit basis.
The supply of raw material and mostly renewable energy would be done by Vedanta as the anchor company. “Industrial clusters are an engine of economic growth which can generate massive jobs…Entrepreneurs can set up hundreds, even thousands, of downstream industries and other associated enterprises,” said Agarwal.
Vedanta would also consider similar parks for oil and gas, and iron and steel, said Agarwal. “An industrial park can greatly increase the competitiveness of manufacturing. The cost of transporting raw material is cut down. Energy can be sourced and secured at an affordable rate. There is common infrastructure for all. Then there are synergies between companies that can be leveraged,” he said.
Meanwhile, Vedanta shares were trading 0.30 per cent higher at Rs 465.15. Around 1.45 lakh shares changed hands on BSE at the time of writing this story. The figure was lower than the two-week average volume of 4.68 lakh shares.
Anil Agarwal said that industrial parks are a good way to achieve scale in different sectors and across the value chain. Batting for the setting up of industrial parks, Agarwal said it would be transformative not just for entrepreneurs but also employees and workers who can avail the best in class townships and facilities that would come around in the cluster.
“This is a proven model across the world. I am excited for Vedanta to lead in the mineral, metals and energy sectors. The biggest satisfaction I get is in seeing startups and MSMEs prosper and grow. Industrial parks will be enablers for them,” said Agarwal.