Key facts
- Vedanta Resources is considering a relisting, potentially in the US.
- The company plans to invest $100 billion in India's metals and minerals sector.
- A $20 billion capital expenditure plan is set for the next three years across aluminium, steel, power, and zinc.
- The group aims to triple its businesses in three to four years.
- Steel production is targeted to increase significantly, with captive raw materials backing.
- Hindustan Zinc will expand into fertilizer production and increase zinc output.
Vedanta Resources is exploring a potential relisting in the United States as part of a broader strategy to invest $100 billion in India's metals and minerals sector. Chairman Anil Agarwal announced an ambitious $20 billion capital expenditure plan over the next three years, targeting significant growth in its aluminium, steel, power, and zinc businesses.
Agarwal expressed confidence that the group's businesses could triple in size within three to four years, driven by strong demand and raw material backing. He highlighted steel as a key growth frontier, with plans to scale production to at least 15 million tonnes, supported by captive iron ore and coking coal. Hindustan Zinc is also set for expansion, aiming for 2 million tonnes of zinc production and venturing into fertilizer production, with silver emerging as a significant revenue generator.
The group has focused on deleveraging, reducing its overall debt from $12 billion to $5 billion. Agarwal indicated that individual companies within the group are largely debt-free or carry manageable levels, with growth plans expected to be self-financed, supplemented by debt and equity if needed. The chairman emphasized that the current environment is ideal for building and expanding, rather than consolidating, in line with India's growth trajectory.