Help Desk -
9717405332, 9599714297, 9810335381
Email
Password

Vedanta Plans to Invest INR 35,000 Crore in Zinc & Aluminium

Metal News - Published on Fri, 12 Jul 2019

Image Source: Financial Chronicle
Mint reported that Chairman Mr Navin Agarwal said that Vedanta Ltd will invest nearly half of its three year capital expenditure plan of INR 55,000 crore in its metals business. He said “We are in a sweet spot. We have a capex programme of INR 55,000 crore in the next three years. Of this, INR 25,000 crore is in base metals, primarily in zinc, another INR 20,000 crore in oil and gas, and INR 10,000 crore in aluminium.”

Mr Agarwal said “As we complete this, we expect our revenue to grow 60-70% across businesses and at least 50% in volumes. The capex will be almost entirely funded from internal accruals."

During FY19, the company spent INR 10,000 crore on capex.

India’s biggest aluminium producer Vedanta plans to raise production by 50% to up to 3 million tonnes of integrated aluminium. It also aspires to become the world’s top zinc producer and among the top three silver producers.

Source :

Posted By : Rabi Wangkhem on Fri, 12 Jul 2019
Related News from Metal segment