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Informist, Tuesday, Jul. 14, 2026

 

NEW DELHI – Vedanta Oil and Gas Ltd. will invest $5 billion over the next three to five years to increase production to 500,000 barrels per day, Vedanta Ltd. Chairman Anil Agarwal told shareholders at the 61st annual general meeting. 

 

In his speech, Agarwal said Vedanta Aluminium Ltd. plans to double its capacity to six million tonnes in the next three years from three million tonnes at present. "We started with just 1 lakh tonne (100,000 tonnes) of aluminium production at BALCO (Bharat Aluminium Co. Ltd). Today, we produce around 30 lakh (three million) tonnes annually, which makes us one o f the world's largest and lowest cost aluminium producers. Over the next three years, we will double our capacity to 60 lakh (six million) tonnes per year at the lowest cost in the world," Agarwal said. 

 

For Vedanta Iron and Steel Ltd., the company plans to increase production capacity to 15 million tonnes per year from four million tonnes annually at present. "Our aim is to take this to 15 million tonnes per year, with a focus on green steel and specialty steel. We have abundant iron ore, in-house met coke and gas pipeline connectivity at our doorstep," Agarwal said. 

 

Vedanta Power Ltd. plans to foray into nuclear power and increase the production capacity to 20,000 megawatt, majorly through brownfield expansion, according to Agarwal. 

 

The company is targetting to nearly triple zinc and lead production to three million tonnes from existing 1.3 million tonnes, Agarwal said, adding that the nickel capacity will be expanded to 60,000 tonnes. It also plans to scale the copper business to one million tonnes from 300,000 tonnes. By the financial year 2027-28 (Apr-Mar), the company targets to increase ferrochrome capacity to 500,000 tonnes from 145,000 tonnes, as per Agarwal. 

 

"We have also been assigned 10 critical mineral and strategic mineral blocks - lithium, cobalt, gold, manganese, copper, nickel, rare earths and potash - with exploration already underway across five of them," Agarwal said. 

 

Notably, on Jun. 15, Agarwal had said the company will invest $20 billion over the coming three years. "We are committed to growth. We are investing $20 billion over the coming three years. Every company has the potential to become $100 billion," Agarwal said during the listing of four of the demerged companies. 

 

Tuesday, shares of Vedanta Oil & Gas closed nearly 3% lower at INR 37.82, Vedanta Iron and Steel closed down 3.7% at INR 35.07, Vedanta Power settled 3.4% lower at INR 40.04, Vedanta Aluminium ended 0.8% higher at INR 454.70, and Vedanta closed down 0.7% at INR 267.70 on the National Stock Exchange. For the March quarter, the company reported consolidated net profit of INR 66.98 billion on revenue of INR 246.09 billion. End

 

Reported by Astha Oriel 

Edited by Deepshikha Bhardwaj

 

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