‘Anyone with Rs 5 cr investment is welcome to set up business’: Anil Agarwal on Vedanta’s industrial parks

Vedanta Resources Chairman Anil Agarwal said anyone with an investment of Rs 5 crore is welcome to set up business at the two industrial parks that the company is planning to set up on a not-for-profit basis. He said that the industrial parks would take India’s manufacturing and job creation to “another level”. 

Agarwal, had last month, stated that the company would set up two industrial parks, one for aluminium and one for zinc and silver. 

“At Vedanta, we have announced the setting up of two industrial parks, one for zinc and silver and a second for aluminium, both on not-for-profit basis. Anyone with an investment of Rs 5 crore and above is welcome to set up their business,” said Agarwal on Tuesday. 

The veteran industrialist said that they would require 1,500 acres of land to begin, preferably within 50 km of their major operations in Rajasthan and Odisha. “But we are happy to examine interest from any state or industrial city. We would like to inaugurate the parks in this financial year. I believe this is going to take India's manufacturing and job creation to another level,” said Agarwal. 

He also lauded the government’s decision to develop 12 smart industrial cities across India, which, he said, would boost manufacturing, especially when it comes to MSMEs. “Industrial clusters are a globally proven approach where large anchor industries become the big tree around which hundreds and thousands of MSMEs take root, creating lakhs of jobs. It is good that the clusters are around cities because managers and workers need soft infrastructure like housing, healthcare and entertainment for decent living,” he said, adding that simple clearances and self-certification would bring a massive wave of investment, jobs and opportunities for the youth. 

Agarwal had said last month that Vedanda would consider setting up similar parks for oil and gas, and iron and steel. 

Vedanta shares were last seen trading 0.37 per cent higher at Rs 465 in Tuesday's trade. The company has approved a third interim dividend of Rs 20 per share for FY25, raising the total dividend payout so far to Rs 13,474 crore. This follows previous interim dividends of Rs 11 and Rs 4 per share.