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Vedanta Seeks Partner for $20bn Expansion Projects

Indian conglomerate Vedanta seeks a global partner for expansion projects worth USD 20 billion across zinc, aluminium, copper, iron, steel, oil, gas, and power.

Led by Anil Agarwal, Vedanta is set to split into four entities - Vedanta Aluminium, Oil and Gas, Power, and Iron and Steel. The company plans to invest in metals, mining, and hydrocarbons over the next three years.

The company's ongoing plans include a USD two billion to USD 2.5 billion investment to expand Hindustan Zinc’s production, and a USD five billion initiative by Cairn India to increase oil output fivefold. Additionally, Vedanta’s power unit aims to double its five GW portfolio and expand into nuclear energy and power distribution.

In February, Vedanta announced its search for partners to build and operate five GW of nuclear power for captive use in India.

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