InvestorQ : Can you tell me about Vedanta’s plans to invest $20 billion in the next few years in the commodity business?
Dawn Cherian made post

Can you tell me about Vedanta’s plans to invest $20 billion in the next few years in the commodity business?

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Mitali Bhutta answered.
3 months ago
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Let me clarify that while the broad indication is of $20 billion, Anil Agarwal has provided a time table only for an overall allocation of $5 billion over the next 3 years as of now. It is true that Vedanta plans to invest $20 billion across its businesses, including doubling of silver production and steel capacities, but the time frames are not too clear. As of now, Agarwal has given timelines for capex plans worth $5 billion over the next 3 years.

This statement was made by the chairman of Vedanta group at the 56th AGM of Vedanta. Vedanta is looking to increase production of oil and gas in India by 50% to spruce up the Cairn portfolio that it had acquired. All commodity prices have rallies sharply, giving the best opportunity to boost supply. For FY21, Vedanta reported EBITDA of Rs.27,341 crore out of total revenues of 86,863 crore. Nearly 40% of initial allocation will be towards oil.

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