Vedanta to Invest $20 Billion to Expand in India, FT Reports

June 10, 2008

June 10th (Bloomberg) – Vedanta Resources Plc plans to invest $20 billion in the next four years to expand power generation and metal production in India, the Financial Times reported, citing chairman Anil Agarwal.

Vedanta plans to spend $8.8 billion to raising production of zinc, copper and aluminum to 1 million metric tons each, the newspaper said. Vedanta also plants to raise iron ore production capacity at its Sesa Goa Ltd. unit to 25 million tons annually.

The company plans to invest about $10 billion on power plants to generate 10,000 megawatts of electricity, the report said. Vedanta could achieve that growth by expanding production rather than acquiring assets, the report cited Agarwal as saying.

Vedanta had earlier said it plans to invest $12.5 billion by 2012 to raise power generation and metal production.

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