Vedanta Limited, a subsidiary of Vedanta Resources Ltd, will invest Rs47bn ($637mn) to set up a zinc-lead-silver smelter complex in Gujarat’s Songadh, according to media reports.
The company has finalized a 415-acre plot of land in Gujarat’s Tapi district and is easily accessible and close to Surat and well-connected to industrial hubs like Ahmedabad and Mumbai.
The announcement was first made during a webinar on Gujarat Industrial Policy 2020 in August by the Gujarat State Government.
The company’s founder and chairman Anil Agarwal is likely to visit Gujarat to sign a formal MoU with the Gujarat State Government for the same.
The smelter project will be the company’s first major investment in Gujarat.