Several global consulting firms evince interest to implement Vedanta's $20-bn expansion projects
Several
global consulting firms
have shown interest in implementing
Vedanta Ltd
's $20-billion expansion projects spanning multiple segments, and the metal major will finalise the company in the current quarter, an official said.
Vedanta
plans to significantly expand its operations over the next three years, as it restructures into four entities -- Vedanta Aluminium, oil and gas, power, and iron and steel.
Speaking with PTI,
Vedanta Ltd
Executive Director Arun Misra, said that "So, we have raised a global EOI and we have got multiple interests. We are finalising partners over a couple of weeks time....imagine a post-demerger, we have multiple businesses all listed and in that case, we at the group work as a private equity so that the EOI has witnessed multiple interests."
When asked to name the companies which have shown interest, Misra said that "there are numerous and think of any large global consulting firms in India and the world over. They all have witnessed, they all have a realistic interest."
The company will spend $20 billion on growth projects in metals, mining and hydrocarbons in the next three years. These projects are extensions of its existing operations.
The mining firm had revised its
demerger plan
and decided to retain its base metal undertaking within the parent firm.
The company expects to complete the demerger of its businesses by the September-end.
Vedanta Chairman
Anil Agarwal
had earlier said the proposed demerger of the company's diverse verticals, which represent more than 15 commodities, will see it progress from asset managers to asset owners.
As the company passes through the transition phase, Vedanta is focusing on consolidating and strengthening its asset base to emerge as a world leader in each of its verticals, the chairman had said.
The metal giant had reported a more than two-fold jump in
consolidated net profit
to Rs 3,483 crore for the quarter ended March 31, 2025, driven by lower cost and higher volume. The company had posted a net profit of Rs 1,369 crore in the year-ago period. The income of the company in the January-March quarter increased to Rs 41,216 crore over Rs 36,093 crore in the year-ago period.
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