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Vedanta Ltd’s capital expenditure touches £1.17bn in 2019

INDIAN business tycoon Anil Agarwal led Vedanta Ltd said that it spent Rs 100 billion (£1.17bn) on capital expenditure programme in the financial year 2019.

Speaking at the annual general meeting of Vedanta Ltd in New Delhi, company’s chairman Navin Agarwal said: "As India's largest private sector oil and gas producer, your company aims to double its current contribution of 27 per cent of nation's production.


"We are the largest primary producer of aluminium in the country. Our plans will see us produce three million tonnes of integrated aluminium, an increase of 50 per cent.”

Asia’s third-biggest economy, India is currently importing around 80 per cent of its oil and gas requirements amounting to £120bn, Agarwal said.

The future plans of the Mumbai headquartered business include a total capital investment of Rs 550bn to raise existing production by about 50 per cent across its businesses.

The company expects funding from internal cash flows for its future capital investment programmes.

Vedanta Ltd’s activities are based in India, with its main operations in iron ore, zinc, and aluminium mines in Goa, Karnataka, Rajasthan, and Odisha states of the country.

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Madhvani group executives meet Modi to discuss investments in India

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Executives from the Madhvani Group, including Shrai Madhvani, his wife Aparna Madhvani, and director Nitin Gadhia, met Indian Prime Minister Narendra Modi at his official residence in New Delhi on Saturday to discuss the group’s proposed investments in India, including the acquisition of Hindustan National Glass Ltd (HNGIL).

The meeting focused on the group's plans to invest in India through INSCO, which is seeking to acquire HNGIL, the country’s largest container glass manufacturer. The acquisition is currently awaiting approval from the National Company Law Tribunal (NCLT), following key rulings by the Supreme Court of India on January 29 and May 16, 2025.

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NEARLY all iPhones exported by Foxconn from India between March and May were shipped to the United States, according to customs data reviewed by Reuters.

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PAY growth in Britain slowed sharply and unemployment rose to its highest level in nearly four years in the three months to April, official figures showed on Tuesday (10), potentially reducing the Bank of England’s (BoE) caution over further interest rate cuts.

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MORE THAN 350 technology companies from India joined London Tech Week, which began on Monday – making it the largest-ever delegation from the country to attend the event.

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A female entrepreneur has said she felt “absolutely humiliated” after being denied entry to London Tech Week because she was accompanied by her 18-month-old daughter.

Davina Schonle, founder and chief executive of AI start-up Humanvantage AI, had travelled from her home to attend the event at Olympia on Monday, 10 June. She said she had made a three-hour journey to London with her daughter, Isabella, only to be turned away on arrival because children were not allowed into the venue.

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