Vedanta has planned to invest $1.5 billion across its oil and gas, zinc and steel businesses. Its board at a meeting approved $687 million capital spending for drilling of new wells at the firm's oil and gas unit, Cairn Oil & Gas.
It also approved a $466 million phase-2 expansion of the Gamsberg zinc project in South Africa and another $348 million for steel expansion.
Vedanta is a diversified natural resources company, whose business primarily involves producing oil and gas, zinc- lead-silver, copper, iron ore, aluminium and commercial power.
