Vedanta to invest Rs 50,000 cr in metals, mining, power

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Anil Agarwal-promoted, Vedanta Resources, on Tuesday said it has planned to invest over Rs 50,000 crore in the next few years in metals, mining and power generation and the outlay is expected to double in the coming years in view of its growth.

"The group has grown in multi-fold, over 650 per cent in the last four years and has planned investment of over Rs 50,000 crore with a clear focus on metals, mining and power generation. Seeing the market growth, the spend is expected to double in the coming years," company sources said.

The London Stock Exchange-listed, Vedanta, is building production capacity of one million tonnes each in aluminium, copper and zinc and lead, over 20 million tonnes of iron ore and commercial power generation capacity close to 10,000 MW in coming years.

The Elements 2008 Summit being organised by Vedanta in Mumbai beginning January is aimed at developing new vendors and entrepreneurs and to further increase their scale of operations, keeping in view the changes in the national and international market scenario.

The summit would nurture many entrepreneurs who wish to scale new heights and enhance their business at global level.

Specially coordinated by industry experts, the Elements 2008 would also provide professional advise to all concerned, sources said.