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Vedanta Resources to invest Rs 60,000 crore in India in 3 yrs: Anil Agarwal

The company is also looking to produce 1,400 tonnes of silver in India, he said, adding that he is also looking to set up a glass manufacturing unit in Maharashtra

Reuters 

Vedanta

Resources will invest up to Rs 60,000 crore ($8.42 billion) in India in the next three years, Chairman told TV channel ET Now.

Vedanta, which is looking to expand its zinc business in India and Africa, is targeting a total annual global production of the metal of 2 million tonnes, Agarwal told ET Now.

The oil-to-metals conglomerate, which operates in India through its unit Ltd, plans to invest $3 billion in oil and gas, he said.

The company is also looking to produce 1,400 tonnes of silver in India, he said, adding that he is also looking to set up a glass manufacturing unit in Maharashtra, India's most industrial state.

is committed to invest $1.5 billion in South Africa, Agarwal said, without specifying a timeline.

The company is currently out of the race to acquire debt-laden Essar Steel, he said.

Willing to buy remaining stakes in and whenever the government is ready to disinvest, Agarwal said.

First Published: Thu, January 24 2019. 14:18 IST
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