Coronavirus: Vedanta Ltd announces Rs 100-cr fund to fight pandemic

Metals and mining giant Vedanta Ltd on Sunday announced setting up of a Rs 100-crore fund to combat the coronavirus outbreak.

The fund will be utilised to provide preventive healthcare to daily wage workers, company employees and contract workers in and around various plants of the company, Vedanta said in a statement.

"I commit 100 crore towards fighting the pandemic. We will increase the corpus if the need arises," Anil Agarwal, executive chairman, Vedanta Resources Ltd, said.

As part of other measures, Vedanta said the company will not cut salaries or fire any of its staff, including temporary workers during this crisis period.

Besides, the company has also decided to provide a special one-time insurance to cover Vedanta's employees and their families against COVID-19.

Further, all mobile health vans in operational areas will aide in preventive healthcare and each business unit will contribute towards the livelihood of daily wage earners around plant locations like tea sellers and vegetable vendors.

The fund will cater to livelihood of daily wage workers, employees and contract workers, preventive health care and provide timely help to communities in and around various plant locations.

Agarwal further said, "The world is currently putting up a spirited fighting against COVID19. It is critical that corporate houses should assist the government in the fight against this deadly virus by contributing to the best of their ability so that the nation has adequate resources to take care of its citizens and provide both medical and financial assistance."