Diversified natural resources company Vedanta Ltd today said it will invest ₹55,000 crore across its businesses to increase production by about 50%. The company would fund this investment from internal cash flows.
Addressing shareholders at the company’s 54th annual general meeting in Mumbai, Navin Agarwal, chairman, Vedanta Ltd, said, “Looking ahead, we are excited by the prospects in our businesses which include: ramp up in zinc, lead and especially silver production from Hindustan Zinc and the benefit of a full year’s production from our Gamsberg Zinc mine in South Africa; increased production from our oil and gas business as the first phase of our projects comes on stream and continued structural changes to our cost structure in the aluminium business while increasing volumes.”
Vedanta, the largest primary producer of aluminium in the country, plans to increase the production by 50% taking it up to 3 million tonnes of integrated aluminium. Read More