India: Vedanta Ltd. to invest $1.5 billion to ramp up zinc, steel, oil businesses

Vedanta Ltd. has proposed to invest $1.5 billion to ramp up its zinc, oil and steel businesses.

• The $466 million phase-2 expansion of the Gamsberg zinc project in South Africa will double its capacity to 8 mnt/year.
• $348 million will be invested in the 3 mnt expansion project of subsidiary ESL Steel Ltd. for setting up additional blast furnace supported coke ovens, pellet and oxygen plants, plus a new 0.18 mnt DI pipe plant.
• $687 million investment has been proposed for infill wells development and exploration, with the Cairn Oil & Gas vertical seeking to increase near-term volume.