Vedanta vouches $30-bn investment in India

The global metal and mines player, Vedanta Resources is all set to announce fresh investments of over $30 billion in India, said official sources adding that in case the investment climate in the country remains positive the player may go for a big ticket investment. Exuding confidence that things are looking positive with the change of guard at the Centre and India has caught the fancy of the global investors as the country is being discussed globally as there is going to be big difference in the investment climate as the investors are discussing India in their board rooms as the country is opening up and is all set to emerge a global investment destination.

The company has already pushed over $30 billion in the last ten years and is going in for more than previous $30 billion if things remain positive. According to the Chairman, Anil Agarwal, the companies will come for profitable venture. Vedanta is looking to invest $6 billion in next two to three years, including $3 billion in oil and gas and remaining $3 billion in other businesses like zinc and aluminum. In addition, it is also keen to invest in coal and is looking to participate in the ongoing mines auctions. In fact, the player is ushering in changes in his country in his own way and that the country should encourage investors so that they should be able to pay the tax and would be able to re-invest the profit.

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