Vedanta Plans to Invest $1.7bn for Capacity Expansion in Various Businesses

Vedanta is planning to invest $1.7 billion in the current financial year to expand its business operations in various businesses. In FY23, the company had invested $1.2 billion in capital expenditure to augment its assets and production.

Vedanta is already expanding its aluminium and zinc capacities, and will commit another $1.7 billion in FY24 towards growth projects.

The company with its oil and gas operations accounting nearly a quarter of India's production is working to diversify its reserves and resources portfolio. Moreover, it envisions contributing 50 percent to India's total oil and gas production. In FY23, the company reported Rs 1,45,404 crore in revenue.

Vedanta is a diversified company across the natural resources spectrum in oil and gas, zinc-lead-silver, aluminium, iron ore, steel, copper, ferro alloys, power and nickel.