Vedanta plans to go big on power but rules out entry into retailing biz

The group is looking to invest $8 billion in various businesses. Of that, $2.5 billion will be in oil

Vedanta Resources is planning to go big on the power sector while ruling out entry into the petroleum retailing business.

The group, which recently entered the steel business by acquiring Electrosteel Steels, sees coal and power as strategic fits for its business.

Speaking to Business Standard, Anil Agarwal, chairman, Vedanta Resources, said: “We are looking at investing in the power sector because it is strategic to our business. Our captive requirement is huge. As and when something comes up, we will look at power assets though there isn’t any firm plan now.”

The group will bid for stressed power assets. It has an