Vedanta mulls setting up not-for-profit industrial parks for Aluminium, Zinc, and Silver: Anil Aggarwal

Anil Aggarwal

Mining conglomerate Vedanta Ltd is planning to set up two industrial parks, one for aluminium and another for zinc and silver, chairman Anil Aggarwal announced through a LinkedIn post on August 28. The parks would be created on a not-for-profit basis, Aggarwal said adding that the company is considering similar parks for oil and gas, and iron and steel.

"For India, industrial parks are a good way to achieve scale in different sectors and across the value chain. They will be transformative not just for entrepreneurs but also employees and workers who can avail of best-in-class townships and facilities that will come up around the cluster," Aggarwal wrote in his post.  Vedanta, as the anchor industry, will ensure supply of raw material and energy, mostly renewable. Entrepreneurs can set up hundreds, even thousands, of downstream industries and other associated enterprises, he added.

As of now, the company operates one aluminium park located in Jharsuguda. It houses Vedanta's aluminum smelter and power plants and is  designed to attract downstream industries that use aluminum, promoting the development of a robust aluminum ecosystem.

The mining major, on August 6,  reported 36.5 percent increase in consolidated net profit at Rs 3,606 crore for the quarter ended June 30, 2024, against Rs 2,640 crore in the year-ago period, buoyed by robust metals prices.