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In February, Vedanta Group Chairman Anil Agarwal announced that the firm would pump in Rs 50,000 crore in Assam and Tripura's oil and gas sector over the next 3-4 years. Agarwal announced this while speaking at the Advantage Assam 2.0 summit in February. Following the meeting, Assam's Chief Minister took to social media on 14 April 2025 to provide an update, stating that the state had already secured investment commitments worth Rs 5.19 lakh crore at the Advantage Assam summit. Of these, Vedanta's Rs 50,000 crore investment in energy exploration and drilling was a key highlight. Today I had an extensive meeting with representatives from Vedanta to chalk out a time frame on realising these investments, particularly in the field of energy exploration and drilling. We are according the highest priority to ensure that a majority of the big ticket investment proposals take off this fiscal, he said in the social media post. In the inaugural function of the Advantage Assam investment summit in February, Agarwal said group firm Cairn Oil & Gas has already invested around Rs 2,500 crore in the two states of the northeast region. Agarwal said that the company has firmed up plans to invest Rs 50,000 crore in Assam and Tripura's oil and gas sector over the next 3-4 years. With such an investment, we will produce 1,00,000 barrels of oil and gas per day, making the region a dominant hydrocarbon hub. It will also create direct and indirect employment opportunities for 1 lakh youths, he added. Vedanta is a global leader in natural resources, critical minerals, energy, and technology. It operates across India, South Africa, Namibia, Liberia, the UAE, Saudi Arabia, South Korea, Taiwan, and Japan. The company's portfolio includes oil and gas, metals like zinc, lead, silver, copper, iron ore, steel, nickel, and aluminium, as well as power and glass substrates. Vedanta is also expanding into electronics and display glass manufacturing. The company's consolidated net profit jumped 76.2% to Rs 3,547 crore while net sales increased 10.2% to Rs 38,526 crore in Q3 FY25 over Q3 FY24. Powered by Capital Market - Live News |