Sterlite Power, a private power transmission provider owned by the Vedanta Group, is launching a sister company – Serentica Renewables – to build renewable energy projects serving commercial and industrial consumers (C&I). Serentica Renewables will build 1.5 Gigawatt (Gw) of solar, wind and energy storage capacity in Karnataka, Maharashtra and Rajasthan. Speaking to Business Standard, Pratik Agarwal, Sterlite Power’s […]
India’s crude oil production fell 3.8 per cent in July on lower output from fields operated by state-owned ONGC and private sector firms, government data showed. Production of crude oil, which is refined to produce fuels such as petrol and diesel, fell to 2.45 million tonnes in July from 2.54 million tonnes a year back. The output […]
The shutting down of Vedanta’s copper smelter plant at Thoothukudi, Tamil Nadu since May 2018 has resulted in a consolidated loss of around Rs 14,749 crore to the economy, according to a report. According to a synthesis report by CUTS International, “Through the data collected and analysed for the purpose of this report, the consolidated […]
Vedanta Group-owned Hindustan Zinc (HZL) will invest around Rs 2,200 crore to set up a 0.5 million tonne per annum (mtpa) fertiliser unit and a 0.16 mtpa roaster plant, the company said. It reported a 56% year-on-year (y-o-y) rise in consolidated net profit at Rs 3,092 crore in Q1FY23. The HZL board approved the setting […]
Vedanta Chairman Anil Agarwal said that India’s exploration and production policy should be liberalised for a wide range of metals and minerals. The country continues to pay hefty import bills year after year even as the nation is gifted with significant reserves of metals and minerals, the metals and mining magnate noted. “It is becoming […]
Zambia should halt the search for a new investor in Konkola Copper Mines (KCM) until litigation with Vedanta Resources is settled, the Indian mining company said. Zambia’s previous government put KCM in the hands of a liquidator in May 2019, triggering the ongoing legal dispute with Vedanta Resources, KCM’s parent company. The Zambian government has […]
India finally deregulated sale of domestically produced crude oil. The government allowed firms like ONGC and Vedanta to sell locally produced crude oil to any Indian refinery for turning it into fuel, such as petrol and diesel. While contracts for oilfields awarded since 1999 gave producers the freedom to sell oil, the government fixed buyers […]
India’s Vedanta has invited bids for its Thoothukudi-based copper smelter that was shut by the government of the southern Tamil Nadu state following protests around environmental concerns raised by activists. The last day to submit EoI is July 4, and the bids have been invited in conjunction with Axis Capital. The Sterlite Copper plant, the […]
India is considering selling up to a quarter of state-run refiner Bharat Petroleum Corp Ltd after failing to attract suitors for the whole firm, two officials said, as the government’s divestment programme moves slower than expected. New Delhi is considering inviting bids for a 20%-25% stake in BPCL, instead of an outright sale of its […]
Billionaire Anil Agarwal’s Vedanta Ltd said it will invest $ 1.5 billion across its oil and gas, zinc and steel businesses. Vedanta’s board in a meeting approved $ 687 million capital spending for drilling of new wells at the firm’s oil and gas unit, Cairn Oil & Gas, it said in a stock exchange filing. It also […]
