Vedanta to Invest Rs 60K Cr in Three Years: Anil Agarwal

SMEStreet Desk January 28, 2019Last Updated: January 28, 2019

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In a major business expansion development, Vedanta Resources has made an announcement to invest up to Rs 60,000 crore in India in the next three years. This was mentioned in a media interview by Mr. Anil Agarwal chairman of Vedanta.

Vedanta, which is looking to expand its zinc business in India and Africa, is targeting a total annual global production of the metal of 2 million tonnes, Agarwal said.

The oil-to-metals conglomerate, which operates in India through its unit Vedanta Ltd, plans to invest $3 billion in oil and gas, he said.

The company is also looking to produce 1,400 tonnes of silver in India, he said, adding he is also looking to set up a glass manufacturing unit in Maharashtra, India’s most industrial state.

Vedanta is committed to invest $1.5 billion in South Africa, Agarwal said, without specifying a timeline.

He said the company is willing to buy remaining stakes in Hindustan Zinc Ltd and Bharat Aluminium Co Ltd whenever the government is ready to disinvest, Agarwal said.