Vedanta, the largest primary producer of aluminium in the country, while looking in the medium term, plans to increase the production by 50% taking it up to 3 million tonnes of integrated aluminium. The company would fund this investment from internal cash flows. It also aspires to become the world’s largest zinc producer and one among the top three silver producers globally.
During the FY19, Vedanta Ltd has spent around Rs 10,000 crore on capital expenditure programmes.
“The mega-targets set in the Budget for investment in the infrastructure sector for ₹100 lakh crores over the next five years will lead urbanisation and industrialization in the country, generating significant demand for natural resources,” said Agarwal. Further, he added that India currently imports around 80% of its oil & gas requirements amounting to $150bn. As India’s largest private sector oil and gas producer, Vedanta aims to double its current contribution of 27% of nation’s production.
Today Vedanta Ltd’s scrip was trading at ₹161.70, up 1.06% on the BSE.