Assam: Vedanta's Rs 50,000 crore energy push gains momentum as CM Sarma holds talks

Assam Chief Minister Himanta Biswa Sarma engaged in discussions with officials from Vedanta Group to chart out a comprehensive roadmap for the company's proposed Rs 50,000 crore investment in the state’s energy sector.

In February, Vedanta Group Chairman Anil Agarwal had 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.

"At #AdvantageAssam2 we received investment commitments of Rs 5.19 lakh crore, of which the Vedanta Group has set a target of investing Rs 50,000 cr in the State," Sarma said in a post on X.

"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," he added.

The Assam government is according the highest priority to ensure that a majority of the big ticket investment proposals take off this fiscal, the CM said.

Announcing the investment at the inaugural function of the Advantage Assam investment summit here, Agarwal had said group firm Cairn Oil & Gas already invested around Rs 2,500 crore in the two states of Northeast.

"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 had said.

Cairn presently holds an acreage of 7,650 sq km in the Arakan basin in Assam and its footprint includes a portfolio of 15 exploration blocks.

Agarwal had said that its Hazarigaon field in Assam has been under production since 2023, the first of the company in Northeast, and it has been supplying gas to the neighbouring tea estates.