Oil And Gas Major Vedanta To Invest Rs. 50000 Crore In Northeast

Anil Agarwal spoke at the Advantage Assam 2.0 summit which got underway in Guwahati on Tuesday.

Guwahati:Vedanta Group Chairman, Anil Agarwal has said that the company is planning an investment of Rs. 50000 crore in India's northeast in the next five years. Agarwal said this while speaking at the Advantage Assam 2.0 summit which got underway in Guwahati on Tuesday. The company is eyeing approximately 100000 barrel of production from the investment in the northeast.

Agarwal said that the company has so far three sites in northeastern states of Assam and Tripura. "While two of the sites are already operational, the other one will become operational soon," said Agarwal. The investment from Vedanta is expected to generate approximately 30000 jobs in the region.

Agarwal while appreciating Prime Minister Narendra Modi and Assam Chief Minister Himanta Biswa Sarma for investor-friendly policies, said that Assam and the northeastern region are blessed by nature.

"While above the soul, there is tea in Assam below the soil there is a huge amount of black gold. The basin in Assam is the seventh largest basin in the world," he said.

The Advantage Assam 2.0 summit was earlier inaugurated by Prime Minister Narendra Modi in the presence of Himanta Biswa Sarma and a galaxy of industry leaders including Adani Group Chairperson Gautam Adani. Adani praised PM Modi for his vision.