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Vedanta will endow $6 billion in capacity expansion, says Anil Aggarwal

Vedanta plans to invest $6 billion to expand its capacity.
BY BEx Bureau
BusinessEx
Jun 27, 2017

Vedanta plans to invest $6 billion in 3-4 years period for capacity expansion of the company, says Anil Aggarwal Chairman of Vedanta Resources Plc.

Vedanta is on the top 10 diversified natural resources powerhouse with a market value of $14 billion.

Anil Aggarwal, chairman Vedanta Resources Plc said that Working on creating a natural resources giant anchored in India, Vedantas dream has only just begun and it will invest $6-7 billion in expanding overall capacity in 3-4 years, metals and mining baron.

He added that India could become natural resources powerhouse because of its rich natural wealth but there is lack of natural resources based companies.

We are far behind on exploration front. Our exploration of natural wealth is minuscule when we compare it with advanced nations like the US and Australia, he said, adding that government thrust could change the scenario.

The company is aiming to produce 50% of Indias oil production as it wants to cut on huge import bills, he said.

We are looking at 3,50,000 barrel of oil and to have 100,000 barrel equivalent to gas," he said, adding that for aluminium, the company was looking at 3 million tonnes capacity.

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