Vedanta To Invest Rs 36,000 Crore In India: Anil Agarwal

Vedanta to invest Rs 36,000 crore in India: Vedanta Group Chairman Anil Agarwal.

Vedanta Resources, a leading mining company, has announced a new investment of more than $5 billion or more than Rs 36,000 crore in India during three years.

Through this, the company will increase the crude oil and aluminum production capacity in the country by 50 percent.

Vedanta Group Chairman Anil Agarwal has also announced an additional investment of Rs 5,000 over the next 5 years for the holistic development of 1,000 villages in the country.

Agarwal said that out of the $5 billion, $2 billion would be invested in the oil and gas sector. The company made a strong foray into India’s energy sector by acquiring Cairn Oil & Gas.

Aggarwal claimed that by producing 5 lakh barrels of crude per day, he can match the biggest oil producer of Indian company ONGC.

At present, India buys crude oil from the foreign market at a cost of $ 70-75 per barrel. The company is supplying crude oil at $ 20-25 per barrel i.e. one-third of the international price.

Aggarwal said that there have been some problems regarding sales in the country due to the lockdown, but there is no problem on the export front.

In the first and second rounds of the Corona epidemic, the company has not allowed production to be affected, giving top priority to safety.

He told that the company is engaged in various preparations even in view of the possible third wave of Corona.

On behalf of the company, it has been decided to run a program of Rs 5,000 crore for rural development under community development.

This amount will be used to provide advanced living standards in areas like education, health to the residents of rural areas with technical help.

Along with this, 20 lakh people will also be vaccinated in 1,000 villages. Swasth Gaon Abhiyan will improve the quality of life of seven crore rural youth and two crore women.

Sensex, Nifty fluctuate in early trade; Shares of TCS, Infosys, Tech Mahindra fell.

Sensex and Nifty saw a lot of volatility in early trading on Friday.

Amid a mixed trend in Asian stock markets, volatility was seen in the Indian markets. BSE’s 30-share Sensitive Index opened with a green mark but soon it came in the red mark.

In early trade, Sensex was trading at 52,271.71 points, down 46.89 points or 0.09 percent. NSE Nifty was trading at a level of 15,670.10, down by 9.90 points or 0.06 percent.