Vedanta to treble zinc, lead production, double silver output; to invest $5 bn for expanding oil & gas biz
Vedanta Chairman Anil Agarwal has announced a significant expansion strategy to triple production of zinc and lead while doubling silver output. The diversification plan also includes a $5 billion investment directed toward the company's oil and gas business.
Vedanta intends to scale up its industrial capacity by tripling current zinc and lead manufacturing and doubling its silver production levels. This move aims to leverage rising demand in the commodities market and strengthen the company's position as a primary metal producer.
In addition to metal production, Chairman Anil Agarwal detailed a $5 billion capital expenditure plan for the oil and gas sector. The investment is designed to enhance exploration and production capabilities across the company's energy portfolio.
The strategic shift follows broad discussions regarding the company's growth trajectory and its focus on critical minerals and natural resources. The investment underscores Vedanta's long-term commitment to expanding its industrial footprint within India and global markets.
Source: Vedanta Chairman Anil Agarwal statement.
