Billionaire Anil Agarwal struggles to get backers for $19 billion chip unit in Gujarat
NEW DELHI: Billionaire Anil Agarwal is struggling to find financial backers for a planned semiconductor factory in India’s Gujarat with an investment of as much as Rs 1.54 trillion ($18.6 billion), according to people familiar with the matter. Agarwal’s representatives met with large funds from the Middle East, Singapore, and the US over the past […]
Odisha destined to emerge trillion-dollar economy: Naveen Patnaik woos investors
BHUBANESWAR: Claiming that Odisha is destined to become a trillion-dollar economy in the near future, Chief Minister Naveen Patnaik on Thursday assured business leaders of all support in launching their projects in the state. Patnaik said this while addressing the plenary session of the third edition of the Make In Odisha’ conclave, the state’s business […]
Ashok Gehlot woos investors; says Rajasthan has friendly government policies
JAIPUR: Rajasthan Chief Minister Ashok Gehlot on Friday pitched the state as a favourable investment destination that has friendly government policies, excellent road infrastructure, skilled labour, as well as better law and order. In his address at the inaugural session of the two-day ‘Invest Rajasthan’ Summit here, Gehlot highlighted that there has been an improvement […]
Vedanta mulls group restructuring; separate listing of businesses
NEW DELHI: Billionaire Anil Agarwal’s Vedanta Ltd on Wednesday said it is mulling restructuring of the mining behemoth that may include demerger and listing of the aluminium, iron & steel, and oil and gas businesses as standalone entities. Under the restructuring being evaluated, Vedanta Ltd and three businesses will operate parallelly, chairman Agarwal told PTI. […]
Anil Agarwal changes his mind, says won’t invest in Jet Airways
NEW DELHI: In the second major setback to the lenders bid to revive the grounded Jet Airways by selling it out, billionaire businessman Anil Agarwal, a day after announcing interest in the airline, Monday said he is no longer interested to pursue the deal. With this, only two financial investors are left in the fray. […]
Privatise mining firms to bring down $400 billion of imports: Anil Agarwal to Narendra Modi
NEW DELHI: Anil Agarwal, the scrap metal dealer turned billionaire metals tycoon, has told Prime Minister Narendra Modi that the government of India should privatise five mining firms including NMDC to save some of the $400 billion that India spends annually on imports, saying the government has no business to be in the business. The […]
Vedanta lost USD 200 million in profits in one year of Tuticorin plant shutdown
NEW DELHI: Vedanta Ltd has lost about USD 200 million in profits ever since its copper smelter plant in Tamil Nadu was shut more than a year back after police fired on protesters and killed 13 people, Group Chairman Anil Agarwal said. Agarwal added that the stoppage of production at the Tuticorin plant of the […]
Vedanta plans to inject Rs 15000 crore in Odisha
BHUBANESWAR: Vedanta Resources Chairman Anil Agarwal on Monday announced the company’s plan to inject Rs 15,000 crore to raise the alumina refinery capacity at Lanjigarh three-fold to six mtpa and firm up downstream sector in Odisha in three years. The expansion of the Lanjigarh plant in phases would increase the capacity of the refinery from […]