Vedanta plans to invest in metals, mining, power

New Delhi: Anil Agarwal-promoted Vedanta Resources today said it has planned to invest over Rs 50,000 crore in the next few years in metals, mining and power generation

“The group has grown multi-fold, over 650 per cent, in the last four years and has planned investments of over Rs 50,000 crore with a clear focus on metals, mining and power generation. Seeing the market growth, the spend is expected to double in the coming years,” company sources said.

The London Stock Exchange-listed company is building production capacity of 1 million tonnes each in aluminium, copper, zinc and lead, over 20 million tonnes of iron ore and commercial power generation capacity close to 10,000 mw in the coming years.

The Elements 2008 Summit, being organised by Vedanta in Mumbai beginning January, is aimed at developing new vendors and entrepreneurs and to increase their scale of operations, keeping in view of the changes in the national and international market scenario.

The summit would nurture many entrepreneurs who wish to scale new heights and enhance their business at a global level. Specially coordinated by industry experts, Elements 2008 would also provide professional advice to all concerned, sources said.

All Vedanta Resources group companies - Hindustan Zinc, Balco, Sterlite Industries (India), Konkola Copper Mines, Sesa Goa, Malco, Sterlite Technologies, Vedanta Aluminium and Sterlite Energy - would participate together for the first time in the summit, they added.