 "Vedanta aims to increase production across segments: Chairman Anil Agarwal")
Vedanta Chairman Anil Agarwal on Saturday said the metal and mining conglomerate is aiming for significant production increases across key segments, including crude oil, zinc, and aluminium.
"We are going to produce five hundred thousand barrels of oil and gas...so many other things they are doing, but these are the major thing for me to do..." Agarwal said during his address at the HT Leadership Summit 2024.
He also termed the closure of Tuticorin copper plant in Tamil Nadu as one of his smallest failures as a businessman. "Tuticorin is one of the smallest failures. More failure you have, the more success you will get. This (failure) is the first ladder for your success," Agarwal said remembering the incidents that led to the closure of the copper unit.
In the near future, Vedanta is aiming to double the production levels of its subsidiary Hindustan Zinc, increase oil production at Cairn Oil & Gas to 300,000 barrels of oil equivalent per day. Further, the group plans to enhance the capacity of its aluminium smelter operations, expanding output to 3 million tonnes per annum, which would strengthen Vedanta's position as one of the leading aluminium producers in India, Agarwal said in a communication to shareholders recently.