Vedanta: Vedanta plans to invest 20 billion dollars in India in 4 years, said Anil Aggarwal

Vedanta Group Chairman Anil Agarwal said the group has set a target of investing $20 billion across all its businesses in India in the next four years. Agarwal said during a company event that the group will sell its steel business only at the right price and will continue to run it if it does not get the right price.

“Currently, we plan to invest $20 billion in various sectors over four years,” Aggarwal said, adding that this investment will focus on technology, electronics and glass businesses among other activities in which the group is involved. Semi-conductors and glass used in making smartphone and laptop screens are very essential from a future perspective, he said, adding that the group is already present in both the businesses. The company has land in Gujarat for a semiconductor plant and is looking for a reliable and strong partner.

Amid concerns over the company’s debt position, Aggarwal said the company’s total debt is currently only $12 billion and it looks like it can be managed. He said that the group has never defaulted in repaying any loan.