India engages in infrastructure to boost demand for natural resources Vedanta plans to invest $8 billion over three years

Published: Jul 12, 2019 10:17

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Navin Agarwa, chairman of Vedanta (Vedanta Ltd.), said the company would invest 550 billion rupees ($8 billion) over the next three years to boost production. Of this amount, 250 billion rupees are used in the zinc industry, 200 billion rupees in oil and gas and 100 billion rupees in the aluminium industry, with the aim of increasing aluminium production by 50 per cent.

SMM7 12: Vedanta (Vedanta Ltd.) chairman Navin Agarwa said the company will invest 550 billion rupees ($8 billion) over the next three years to boost production.

Of this amount, 250 billion rupees are used in the zinc industry, 200 billion rupees in oil and gas and 100 billion rupees in the aluminium industry, with the aim of increasing aluminium production by 50 per cent.

The expansion could increase the company's revenue by 60% to 70%.

The plan is also in line with India's current aggressive infrastructure initiatives, which aim to invest 100 trillion rupees in infrastructure over five years to promote the country's urbanization and industrialization, so it will also boost the country's demand for natural resources.

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