Vedanta Ltd, a prominent mining company based in Mumbai, is actively searching for a global partner to help fund its ambitious $20 billion expansion plans. The company aims to significantly increase its operations across several sectors over the next three years.
In a recent statement, Vedanta revealed that it is restructuring its operations into four distinct business units: Vedanta Aluminium, Oil and Gas, Power, and Iron and Steel. This restructuring is part of the company’s strategy to manage its diverse assets more effectively.
“We are looking for a global engineering firm with experience in engineering, procurement, and construction management (EPCM) to partner with us in executing these projects,” the company said in an Expression of Interest (EoI) posted on LinkedIn. The selected partner will work closely with Vedanta, becoming an extension of its internal team.
The $20 billion investment will focus on growth initiatives in the metals, mining, and hydrocarbons sectors, leveraging Vedanta’s existing operations. The company is inviting potential partners to submit their qualifications and experience, with submissions due by April 30, 2025.
Earlier, Vedanta had delayed its demerger process, which is now expected to be completed by mid-2025, a shift from the previous timeline set for the end of the 2024-2025 fiscal year. Ajay Goel, Vedanta’s Chief Financial Officer, stated that the demerger process is close to completion and should be wrapped up by the summer of 2025.
The demerger plan will split Vedanta’s various business units into independent entities, which is expected to streamline operations. This move will allow investors to directly access focused investments. The company has also adjusted its plan to retain its base metal business within the parent organization.
Anil Agarwal, Chairman of Vedanta, explained that reorganizing the company’s diverse assets will allow Vedanta to shift from being asset managers to asset owners. This change will further strengthen the company’s position in the global market.
As the company undergoes this transformation, its primary focus remains on building its asset base to become a leader in each of its business segments. The demerger is seen as a way to simplify the corporate structure and offer global investors clearer, more direct investment opportunities linked to India’s growth potential.
Vedanta Ltd, a subsidiary of Vedanta Resources Limited, is a global leader in natural resources, critical minerals, energy, and technology. The company operates in regions such as India, South Africa, Namibia, Liberia, the UAE, Saudi Arabia, Korea, Taiwan, and Japan. Vedanta has a strong presence in several industries, including Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, Nickel, Aluminium, Power, and Glass Substrate. The company is also expanding into electronics and display glass manufacturing.
For over two decades, Vedanta has played a crucial role in the development of the nations where it operates, consistently driving progress in the industries it serves.
At the core of Vedanta’s strategy are strong governance and a commitment to sustainable development, with a focus on health, safety, and environmental protection. The company has established a comprehensive framework to lead in environmental, social, and governance (ESG) practices within the natural resources sector. Vedanta aims to achieve net-zero carbon emissions by 2050 or earlier, with plans to invest $5 billion over the next decade to accelerate this transition.
Through the Anil Agarwal Foundation, Vedanta has also committed to improving the lives of local communities. The company plans to invest Rs 5000 crore over the next five years in various social impact projects. One key initiative, Nand Ghar, is working to establish model anganwadis across India to improve the health and education of children and women.
Vedanta’s commitment to sustainability and excellence has earned it a place among the top five companies in the S&P Global Corporate Sustainability Assessment 2024. The company is also included in the prestigious Dow Jones Sustainability World Index, a recognition of its leadership in sustainable business practices. Furthermore, Vedanta has been recognized as a Great Place to Work and a Kincentric Best Employer for 2023.
