In a major boost to Northeast India’s energy sector, Vedanta Group Chairman Anil Agarwal has announced a ₹50,000 crore investment in Assam and Tripura’s oil and gas industry over the next three to four years.
Announcement at Advantage Assam 2.0 Summit
Agarwal made the announcement during the Advantage Assam 2.0 Investment and Infrastructure Summit in Guwahati. The event aims to position Assam as a key investment hub. Vedanta’s subsidiary, Cairn Oil & Gas, has already invested ₹2,500 crore in these two states.
Targeting Increased Production and Employment
With this investment, Vedanta aims to produce 1,00,000 barrels of oil and gas per day. The company expects this expansion to create significant employment opportunities for local youth, boosting the region’s economy.
Surge in Corporate Investments in Assam
Vedanta’s investment aligns with growing corporate interest in Assam’s natural resources. Mukesh Ambani, Chairman of Reliance Industries Ltd (RIL), has pledged over ₹50,000 crore in investments over the next five years. Similarly, Adani Group Chairman Gautam Adani has announced a ₹50,000 crore investment, highlighting the summit’s role in driving economic transformation.
Assam’s Strategic Role in India’s Oil Sector
Assam has long been a crucial player in India’s oil industry. The state is home to Asia’s oldest refinery in Digboi and boasts vast untapped hydrocarbon reserves in the Brahmaputra basin. As reported by msn.com, with major energy giants like Vedanta, RIL, and Adani increasing their presence, Assam is set to become a key hub for India’s energy future.
