Vedanta has received approval for investment in Vedanta Copper International VCI Company (VCI) for setting up of Continuous Cast Copper Rod Plant -- in Kingdom of Saudi Arabia (KSA). VCI is in the process of establishing a state-of-the-art copper rod manufacturing facility with a projected capacity of 125 KTPA in KSA, which will enable the Company to explore more growth opportunities in new geographies. Post the investment, VCI shall become a direct wholly owned subsidiary of the Company.
Vedanta Copper International VCI Company is incorporated for exploring growth opportunities in new geographies. The Board of Directors of Vedanta at its meeting held on May 16, 2024, has inter alia considered and approved the same.
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.
