India Development News & Foreign Investment Opportunities

Vedanta commits Rs.60,000 crore investment

Study on Gamsberg mine expansion

0

Study on Gamsberg mine expansion

 

Vedanta Resources Ltd.

 

Vedanta Resources Ltd has committed another Rs.60,000 crore investment in India in the next three years and Rs.8,500 crore to expand its mining and allied operations in South Africa.

Vedanta has so far invested Rs.2.34 lakh crore in India.

“Just as we are committed to being India’s premier natural resources company, Vedanta is committed to South Africa in equal measure. Looking forward, we must accelerate South Africa as a mining investment destination,” Executive Chairman Anil Agarwal said.

It is producing zinc from Gamsberg mine since mid-2016 with plans to develop second and third phases. The first phase investment cost was Rs.3,000 crore while the next two phases could double that amount.

A feasibility study is being done to build a greenfield, state-of-the-art smelter and refinery as part of the Gamsberg project.

If feasible, the construction of a smelter-cum-refinery is likely to entail fresh investment of Rs.6,000 crore (US$800 million), thus making the Khai-Ma region of Northern Cape an industrial powerhouse,” said the company.

The London-headquartered globally diversified Vedanta produces zinc, lead, silver, oil & gas, iron ore, steel, aluminum and power. fiinews.com

Leave A Reply

Your email address will not be published.