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In a significant boost to Northeast India’s energy sector, Vedanta Group Chairman Anil Agarwal has announced an investment of Rs 50,000 crore in Assam and Tripura’s oil and gas industry over the next 3-4 years.
The announcement was made during the Advantage Assam 2.0 Investment and Infrastructure Summit inaugurated by Prime Minister Narendra Modi in Guwahati.
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Agarwal stated that Cairn Oil & Gas, a Vedanta subsidiary, has already invested around Rs 2,500 crore in the two states.
The company aims to produce 1,00,000 barrels of oil and gas per day, generating employment opportunities for the youth in the region.
Vedanta’s investment is part of a broader wave of corporate interest in Assam’s natural resources and infrastructure development. Reliance Industries Ltd (RIL) Chairman Mukesh Ambani pledged to invest over Rs 50,000 crore in Assam over the next five years.
Adani Group Chairman Gautam Adani also announced a Rs 50,000 crore investment, emphasising the transformative impact of such summits on India’s economic growth.
The Advantage Assam 2.0 summit has positioned the state as a major investment destination, attracting participation from industry leaders and international business delegations.
Assam has historically been a crucial player in India’s oil sector, housing Asia’s oldest refinery in Digboi. The Brahmaputra basin has vast untapped hydrocarbon reserves, making it an attractive prospect for energy giants like Vedanta, RIL, and Adani.
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