Vedanta's $20 Billion Expansion: Charting a New Course

Several global consulting giants have expressed interest in spearheading Vedanta Ltd's ambitious $20-billion expansion initiative. The metal major is set to finalize its partner for the multi-segment project by this quarter's end, informed a company official.

Vedanta seeks to significantly broaden its operations within the next three years, restructuring into four distinct entities: Vedanta Aluminium, oil and gas, power, and iron and steel. Executive Director Arun Misra revealed that the company had issued a global Expression of Interest (EOI) that attracted the attention of numerous top-tier consulting firms worldwide.

In light of transitioning from asset managers to asset owners, Vedanta intends to complete the demerger by September-end, retaining its base metal undertaking. The metal giant, experiencing a notable surge in profits, is committed to consolidating its asset base to emerge as a leader in each segment, said Chairman Anil Agarwal.

(With inputs from agencies.)