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Vedanta to invest Rs 60K cr in 3 years

Vedanta to invest Rs 60K cr in 3 years
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Mumbai: Vedanta Resources Chairman Anil Agarwal on Monday said the company is planning to invest around Rs 60,000 crore in the next 2-3 years. The company is also eyeing a top line of $30-40 billion and a bottom line of $10 million in 4-5 years, Agarwal said at the India Economic Conclave 2019.

"I am committed to India. I have already invested $35 billion in India in the past 10 years. I have bought 13 companies so far including Hindustan Zinc, Balco, Sesa Goa and Cairn and all of them are doing well. I hope to invest Rs 60,000 crore in the next 2-3 years," he said.

However, he did not give further details on how the company plans to utilise the funds, but hinted at being keen on acquiring a few public sector companies.

"We currently have the best in class assets and we are looking at many more nationalised companies. I want to tell the government that it should not depend on foreigners but depend on us. They (foreign investors) want to make money but we want to make the country. If government depends on us we will also bring in foreign investment," Agarwal

added.

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