Vedanta to invest $20bn on expanding Indian units
Vedanta Resources, the UK-listed mining group, is planning to invest $20bn in India in the next four years to expand its metals, mining and electricity generation operations in the country. The move by Vedanta, which controls Sterlite Industries, India's biggest producer of non-ferrous metals such as aluminium, copper and zinc, would follow recent acquisitions such as its $2.6bn takeover of US copper producer Asarco last month. Demand for copper in India was growing 8-10 per cent year-on-year, aluminium 10-12 per cent and zinc 13-14 per cent, Vedanta said.