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According to Vedanta Resources Chairman Anil Agarwal, Sterlite Industries would bid for Ultra Mega Power Projects (UMPPs) and coal blocks as and when the government puts these on auction and added it has plans of Rs 70,000 crore till 2011-12.

 

The cash-rich group is working out ambitious investment plans of Rs 70,000 crore, a large part of which is being used for creating a total 11,000 Mw power generation capacity. Sterlite Industries raised over Rs 7,000 crore from the American market on July 16, to part- finance its power projects entailing an estimated investment of Rs 50,000 crore.

 

Agarwal hopes to re-align the corporate structure of the group into commodity-focused verticals by the year-end, provided it gets the residual stakes of aluminium producer Balco and metal firm Hindustan Zinc, the majority holding of which it had bought during the tenure of the Vajpayee-led NDA government.

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Peers
Company Name CMP
Hindalco 992.25
Vedanta 745.10
Hindustan Zinc 564.10
Jain Resource Recycl 426.95
Gravita India 1558.65
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