Vedanta to invest around $8 bn over the next 3 years

Mumbai : Natural resources company Vedanta Chairman Navin Agarwal on Friday said the company will invest around $8 billion in growth projects across businesses, over the next three years.

"With this immense growth potential, I'm pleased to report that your company will invest around $8 billion, on growth projects across our businesses, over the next 3 years," Agarwal said in his speech delivered at the Annual General Meeting 2018 held here.

Agarwal called for further changes in policies for natural resources sector, particularly the implementation of the much awaited "New Mineral Policy" and ensure a level playing ground for imports and in the matter of duties.

"Encouragement to explore and produce natural resources in India will lead to greater self-reliance, save billions of dollars in imports, generate immense employment opportunities, paving way for socio-economic development," he said.

"Urbanisation and infrastructure development will continue to generate demand for natural resources, including commodities where your company is a leading producer. Such is the scale of the nation's needs, we believe that in times to come, everything that we produce in India - will sell in India."

According to Agarwal, the company will invest in its oil, zinc-lead-silver and aluminium businesses.