Vedanta Seeks Global Partner for $20 Billion Expansion Across Metals, Oil, and Power
Indian conglomerate Vedanta, led by billionaire Anil Agarwal, is seeking a global partner for its ambitious $20 billion expansion across zinc, aluminium, copper, iron, steel, oil, gas, and power, according to a recent tender document. The company, which is set to split into four entities—Vedanta Aluminium, Oil and Gas, Power, and Iron and Steel—has outlined significant investments in metals, mining, and hydrocarbons over the next three years.
Among its key expansion plans, Vedanta’s subsidiary Hindustan Zinc is set to receive an investment of $2 billion to $2.5 billion to boost production. Another subsidiary, Cairn India, is aiming to increase its oil output fivefold with a $5 billion investment. Additionally, Vedanta’s power division plans to double its existing 5-gigawatt (GW) capacity while exploring nuclear energy and power distribution.
In February, Vedanta announced its search for partners to develop and operate 5 GW of nuclear power for captive use in India. The company has not disclosed specific details regarding the current tender, which was issued last week, but the move highlights Vedanta’s aggressive strategy to expand its footprint in the global energy and metals sectors.
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