Vedanta keeps cost guidance unchanged, pushes capital expenditure pedal

Anil Agarwal, in a shareholder message, highlights doubling of capacities across its key businesses

Anil Agarwal, chairman of Vedanta group, informed shareholders on Sunday that the group would be doubling capacities in its three main businesses — zinc, aluminium, and oil and gas — in the near future.

 

In addition to the capital expenditure (capex) spree, company executives, in media interactions and with analysts, expressed confidence in meeting cost guidance and controlling debt.

 

In his address sent to Vedanta shareholders early on Sunday, Agarwal noted, “We are aiming to double the production levels at our subsidiary, Hindustan Zinc (HZL), increase oil production at Cairn Oil & Gas to 300,000 barrels of oil equivalent per