Vedanta will consider making an offer for BPCL, says Anil Agarwal

Vedanta Resources will definitely consider making an offer for state-run Bharat Petroleum Corporation Ltd (BPCL) when the bids will be invited, its executive chairman Anil Agarwal said on Friday.

The Cabinet recently approved strategic divestment of the government's 53.29 per cent stake in BPCL, along with transfer of certain management control. This is excluding BPCL's equity share holding of 61 per cent stake in Numaligarh Refinery.

"We are evaluating. We are in oil business. We produce 30 per cent oil and gas of the country and we will be very keen because oil, energy security. We will evaluate if it makes sense where we can supply our oil. It makes sense, we should look at BPCL or any kind of asset which comes," Agarwal said.

He said there will be a bidder whenever the expression of interest and tender are issued.

"When it (tender for BPCL) comes, we will definitely look at it," Agarwal added.

Asked whether the protests related to the Citizenship Amendment Act will hurt the Brand India image, he said the government is taking a bold decision.

"I have never seen any kind of government taking these kinds of bold decisions. Bold decisions are very important, decisive. I am not a politician, I don't understand. The only thing is ... this government without vested interests, takes bold decisions and that was very important," Agarwal said.

He heaped praises on Prime Minister Narendra Modi, saying he is among the top three leaders in the world and his brand image is tremendous.

Asked if this meant it (CAA protests) were not going to hurt India's image in the world, Agarwal said he was talking "in general" and if Modi says he is going to start 100 infrastructure projects, there will be no shortage of money because of his credibility.

Earlier addressing Assocham's annual conference, Agarwal said in the US and China when any project starts, the government makes sure that the project is completed, adding that India has to do the same.

Observing there was "huge discrimination" between the public sector and the private sector in India, he said, "We have to be given a level-playing field".

He said the government has no business to be in business.

Talking to reporters on the sidelines of the event, Agarwal said: "Any democratic country in the world does not run business. They are for how the general governance can be maintained, how to collect more and more revenue, whether it is education, water or public health, how they can focus there, and this is how the government's mood is".