Vedanta to invest $20 bn across businesses, double silver and steel output

Timeline for investment not given; Firm looks to ramp up domestic production in oil and gas by up to 50%

With a robust outlook for mineral-led growth in India, Anil Agarwal-led Vedanta Limited is looking to invest up to $20 billion across its businesses, which includes doubling of silver production and steel capacities.

In a virtual press conference had last month, Agarwal said the company planned a capex of $5 billion over a period of three years. The company has not given a timeline for $20-billion investment. “In aluminum, we are already India’s largest producer. For silver, we aim to double our production, as it is not only a precious metal but also used in high-tech industry and renewable energy.