Vedanta Resources is set to invest up to 600 billion Indian rupees ($8.42 billion) in India over a period of next three years primarily to expand in zinc business. Vedanta Resources is also targeting to expand in Africa and together Vedanta Resources is targeting to achieve a total annual global production of zinc to 2 million tons. Vedanta Resources is an oil to metal conglomerate and it also plans to invest $3 billion in oil and gas.
Vedanta Resources is also looking to produce 1400 tons of silver in India and is looking to set up a glass manufacturing unit in Maharashtra, India.
Additionally, Vedanta Resources is also looking to buy remaining stakes in Hindustan Zinc Ltd and Bharat Aluminium Co Ltd as soon as the government is ready to disinvest, according to Vedanta Resources chairman, Anil Agarwal.
About Vedanta Resources
Founded in 1976, Vedanta Resources plc. operates as a diversified natural resources company in India, Zambia, South Africa, Namibia, the United Arab Emirates, Ireland, Australia, and Liberia producing zinc, lead, silver, copper, iron ore and aluminum deposits. Headquartered in the UK, Vedanta Resources also explores for, extracts, and processes minerals, as well as oil and gas and also operates as a power producer with an installed capacity of 8.4 gigawatts of thermal based power generation and 274 megawatts of wind power generation. Vedanta Resources plc. is a subsidiary of Volcan Investments Limited. Vedanta employs around 25083 employees around the globe.