Vedanta to consolidate metals biz into 3 arms

  • 10/09/2008

  • Indian Express (New Delhi)

VEDANTA Resources has decided to revamp its corporate structure by consolidating its metals operations into three verticals. Sterlite Industries would focus on copper and zinc, Vedanta Aluminium would deal with aluminium, and the third vertical would concentrate on iron ore. The move will help simplify the corporate structure, cut costs and ensure fewer cross-holdings, while also providing dedicated teams for aluminium, iron ore and copper & zinc businesses. This follows an ambitious Rs 115,000-crore investment plan outlined by the Anil Agarwal-run, London-listed company. The funds will be invested over five years and help the company raise its total aluminium output to 2.6 million tonnes, making it the world