Anil Agarwal, chairman, Vedanta Resources, announced plans to invest Rs60bn ($84.5mn) over the next three years in the firm’s India operations, driving a profit forecast of $10mn by 202-25.
Vedanta owns and runs Zinc India, Balco, Sesa Goa and Cairn Andhas, and speaking at India Economic Conclave 2019 on Monday, Agarwal said that $35bn has been invested in India in the last 10 years.
Vedanta’s Zinc India delivered 425,000mt of refined zinc and lead in H1 2019. Vedanta’s aluminum business in India produced 976,000mt during the first half of 2019.
Agarwal gave no indication on what part of the investment would be assigned to increasing production on its India smelters and mills.