Vedanta chairman Anil Agarwal said all four demerged businesses will be independently listed by next month, starting with the aluminium unit.
The group plans to invest $20 billion across aluminium, oil & gas, power, and steel businesses to drive large-scale capacity expansion.
Agarwal also pushed for longer mining leases and broader privatisation, while remaining bullish on coal, metals, and India’s industrial growth potential.
Vedanta to List Four Separate Companies by Next Month, Says Chairman Anil Agarwal
Vedanta plans aggressive expansion across aluminium, oil, power, and steel businesses as all four demerged entities prepare for separate listings next month
Summary
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Vedanta Group chairman Anil Agarwal on Thursday said all four demerged entities of the company will be independently listed by next month. In an interview with CNBC-TV18, Agarwal said Vedanta Aluminium will be the first business to be listed.
He said the aluminium business currently produces 3 million tonnes annually and aims to double production to 6 million tonnes within the next three years. The group is also planning to develop 1,000 downstream industries around the aluminium business through an industrial park model.
According to Agarwal, the second business to be listed will be the oil and gas unit. Vedanta plans to invest $5 billion over the next three to five years to raise production to 500,000 barrels per day. He added that the company is seeking a long-term lease from the government to support large-scale investments.
The third demerged entity will be the power business, which currently generates 4,000 megawatts and aims to expand capacity to 20,000 megawatts. Agarwal said the company has secured coal linkages and described coal as a long-term energy source that “is not going anywhere.”
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The fourth company to be listed will be the iron and steel business. The unit currently produces 4 million tonnes annually, including 3 million tonnes from its main plant and 1 million tonnes from Goa operations. Agarwal said the company aims to scale production to 15 million tonnes of green, electrical, and specialty steel, supported by captive iron ore and coke supplies.
Policy Demands and Push for Privatisation
Speaking about expansion plans, Agarwal said the group intends to invest $20 billion across these businesses, largely funded through internal accruals. He added that Vedanta’s EBITDA currently stands at nearly $10 billion.
On policy issues, Agarwal called for longer mining lease tenures, arguing that the current 50-year cap discourages major investments. “What is this 50 years? They are taking it back; people will run away. Nowhere in the world is it like this,” he said.
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He also advocated wider privatisation of public sector companies, citing the aviation and telecom sectors as successful examples. Agarwal remained bullish on commodities such as aluminium, copper, oil, and gas, and said India has the potential to become a major producer of arms and ammunition if its industrial base is modernised and privatised.