Skip to content
Search

Latest Stories

Vedanta Chairman Says To Invest Up To $8.4 Billion In India In Next Three Years: TV

Easterneye.Biz Staff
By Easterneye.Biz StaffJan 24, 2019
Easterneye.Biz Staff
See Full Bio

Vedanta Resources will invest up to Rs 600 billion ($8.42 billion) in India in the next three years, chairman Anil Agarwal told TV channel ET Now.

Vedanta, which is looking to expand its zinc business in India and Africa, is targeting a total annual global production of the metal of two million tonnes, Agarwal told ET Now.

The oil-to-metals conglomerate, which operates in India through its unit Vedanta Ltd, plans to invest $3bn in oil and gas, he said.

The company is also looking to produce 1,400 tonnes of silver in India, he said, adding that he is also looking to set up a glass manufacturing unit in Maharashtra, India's most industrial state.

Vedanta is committed to invest $1.5bn in South Africa, Agarwal said, without specifying a timeline.

The company is currently out of the race to acquire debt-laden Essar Steel, he said.

Willing to buy remaining stakes in Hindustan Zinc Ltd and Bharat Aluminium Co Ltd whenever the government is ready to disinvest, Agarwal said.

anil agarwalvedantavedanta resources

Related News

Sanjay Bhandari's extradition appeal opens in London
Business

Sanjay Bhandari's extradition appeal opens in London

Rupert Murdoch looks on as he walks on the day of the hearing on the contentious matter of succession of Rupert Murdoch's global television and publishing empire, in Reno, Nevada, US, September 23, 2024. (Photo: Reuters)
Business

Murdoch's bid to secure eldest son's control of media empire fails

Kamlesh Pattni faces UK sanctions for illicit gold trade
Business

Kamlesh Pattni faces UK sanctions for illicit gold trade

Sanjay Malhotra speaks during the 67th Foundation Day of the Directorate of Revenue Intelligence (DRI) in New Delhi on December 4, 2024. (Photo: Getty Images)
Business

India appoints Sanjay Malhotra as new central bank governor

EasternEye

More For You

London tourist levy

The capital recorded 89 m overnight stays in 2024

iStock

London to introduce tourist levy that could raise £240 million a year

Kumail Jaffer

Highlights

  • Government expected to give London powers to bring in a tourist levy on overnight stays.
  • GLA study says a £1 fee could raise £91m, a 5 per cent charge could generate £240m annually.
  • Research suggests London would not see a major fall in visitor numbers if levy introduced.
The mayor of London has welcomed reports that he will soon be allowed to introduce a tourist levy on overnight visitors, with new analysis outlining how a charge could work in the capital.
Early estimates suggest a London levy could raise as much as £240 m every year. The capital recorded 89 m overnight stays in 2024.

Chancellor Rachel Reeves is expected to give Sadiq Khan and other English city leaders the power to impose such a levy through the upcoming English Devolution and Community Empowerment Bill. London currently cannot set its own tourist tax, making England the only G7 nation where national government blocks local authorities from doing so.

A spokesperson for the mayor said City Hall supported the idea in principle, adding “The Mayor has been clear that a modest tourist levy, similar to other international cities, would boost our economy, deliver growth and help cement London’s reputation as a global tourism and business destination.”

Keep ReadingShow less
© Copyright 2025 Garavi Gujarat Publications Ltd & Asian Media Group USA Inc
Contact Us