Mining company Vedanta Ltd has announced plans to invest $1.7 billion in the current financial year in order to expand its business operations. The move comes after a $1.2 billion investment in FY2023 that focused on augmenting production facilities. The plans were discussed in the company’s Annual Report for financial year 2022-23. Vedanta’s Chairman, Anil Agarwal stated that the investment will go towards growth projects that will focus on expanding aluminum and zinc capacities, as well as diversifying reserves in oil and gas to increase production. Vedanta has said that it is committed to growing responsibly and ensuring the communities in which it operates thrive and grow. The investment comes amid an improving global economic outlook and an increasing focus on renewable energy and greener technologies. Vedanta’s portfolio places it in a strong position to take advantage of these trends and expand its share of the market.
Vedanta Ltd Plans to Invest USD 1.7 Billion in Growth Projects in FY24: Chairman Anil Agarwal
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