Vedanta’s Meenakshi Energy Goes Live with 1000 MW Thermal Plant—Saline Water Innovation and Zero Legacy Waste Lead the Way

Meenakshi Energy Limited (MEL), a subsidiary of Vedanta Limited, has announced the full operationalization of its 1000 MW thermal power plant, comprising two units of 350 MW and two units of 150 MW.

Meenakshi Energy, the latest acquisition of Vedanta in 2023, has achieved a remarkable turnaround within two years through a structured and accelerated commissioning plan. Earlier this year, both 150 MW units were stabilized and operationalized, followed by the commissioning of two 350 MW units in this month. With this, Meenakshi Energy’s full 1,000 MW capacity has been restored to deliver reliable and sustainable power. This milestone strengthens Vedanta Power’s portfolio and contributes to the nation’s energy security.

Bolstered by Vedanta’s technological prowess, Meenakshi Energy operates with cutting-edge, state-of-the-art technology that drives efficiency, reliability, and sustainability. Advanced control systems, high-efficiency turbines, and optimized processes make it one of the most efficient newly commissioned thermal power plants in the country. Besides, supplying dependable energy to industrial clusters in the proximity, MEL is ready to deliver stable baseload power to grids. This combination of technology and efficiency positions MEL as a key enabler of India’s energy security and industrial growth.

On achieving operationalization status, Rajinder Singh Ahuja, CEO- Power, Vedanta Ltd said, “With thermal projects accounting for over 70% of India’s electricity, they remain the backbone of the country’s energy security, meeting peak demand, ensuring fuel availability, and providing stable baseload generation. This comeback reinforces our commitment to meeting India’s growing energy needs and marks a defining chapter in our journey to become the country’s most efficient and sustainability-driven power producer.”

A distinctive feature of MEL is its 100% reliance on saline water, treated and used exclusively for internal industrial processes. This eliminates dependence on freshwater resources, preserving supplies for agriculture and local communities, and aligns with India’s water-security goals. MEL has also implemented a water recovery system from the ash dyke, further conserving resources and enhancing plant sustainability. In addition, the company has eliminated legacy ash waste. Through such strategic resource management, MEL not only meets its operational needs but also contributes to a broader vision of environmental sustainability.

MEL employs world-class digital safety and risk-management platform to standardize reporting, strengthen compliance, and foster a proactive safety culture for its 1150 strong workforce, across the plant.

Vedanta Power is among India’s largest private power producers with 4,780 MW installed capacity, catering to discoms, utilities, and industries nationwide. Its portfolio includes Talwandi Sabo Power Limited, a supercritical 1980 MW plant in Mansa, Punjab serving 30% of state’s power needs; Vedanta Ltd. Chhattisgarh Thermal Power Plant (VLCTPP) of 1200 MW in Singhitarai, Chhattisgarh; Meenakshi Energy of 1000 MW in Tirupati, Andhra) and the 600 MW Jharsuguda Thermal Power Plant in Odisha.

Vedanta Crosses $5 Billion Capex in India

Ahead of Independence Day, Vedanta Limited (NSE: VEDL), India’s leading critical minerals, energy transition metals, energy, and technology conglomerate, announced a major milestone - crossing USD 5 billion in capital expenditure in India from its total planned outlay of USD 8.5 billion within the country. These investments are focused on capacity expansions, backward integration, and raw material security projects, reinforcing India’s journey towards resource atmanirbharta and building a resilient industrial base capable of withstanding global market volatility.

Vedanta operates some of the largest and most strategic natural resource assets in the country, including the world’s largest single-location aluminium smelter, the world’s largest underground zinc mining site, the world’s largest single location zinc-lead smelter, and India’s largest onshore oil field. In the past two fiscals alone, the company has invested nearly USD 2.5 billion in India to boost production capacity, strengthen backward integration, integrate new technologies and expand its value-added product portfolio.

Vedanta’s Zinc Bolsters India’s Industrial Self-Reliance

In the first quarter of the current fiscal year, Vedanta’s subsidiary business Hindustan Zinc announced an investment of USD 1.4 billion as part of its board-approved first phase of doubling capacity plans. The investment is centred towards setting up a 250 KTPA integrated smelting complex in Udaipur along with mines and mills expansion.

Vedanta has been at the forefront of ensuring domestic availability of key resources including oil & gas, aluminium, zinc, silver, lead, ferrochrome, steel and nickel for India’s growing economy and finding applications in infrastructure, defence, aerospace, automotive, hi-tech manufacturing and technology. The aluminium business caters to nearly half of India’s total demand and Vedanta is expanding its value-added product portfolio to serve high-end applications in renewable energy, automotive, aerospace and other growth sectors.

In zinc, Vedanta holds a 77% market share in the domestic primary market and meets around 10 percent of India’s silver demand with 100% of the sales within the country. The oil and gas operations produce roughly a quarter of the nation’s hydrocarbons and has produced approximately 1.4 billion barrels of oil equivalent since inception. The company’s steel production caters entirely to the domestic market. While for nickel, Vedanta is the sole producer of nickel in India and 80% of the metal is sold in the domestic market.

Vedanta's Cairn Oil & Gas Offshore Unit in Andhra Pradesh

In the wake of the recent tariffs, Vedanta believes that ensuring the domestic availability of energy transition metals such as aluminium, zinc, silver and oil & gas at globally competitive prices will be critical to powering India’s public infrastructure, renewable energy and defence projects.

“In an era of rising resource nationalism, Vedanta is committed to ensuring India’s growth is powered by its own resources. Our integrated operations, scale and sustained investments enable us to meet domestic demand with world-class products while insulating the economy from volatile global trade policies and geopolitical vagaries. This is not just about self-reliance, it’s about securing India’s long-term strategic and economic future,” said a Vedanta spokesperson.

Vedanta’s vision of producing for Desh ki Zarooraton ke Liye (for the needs of the country) reflects the broader call for economic sovereignty and positions the country to leverage its abundant mineral wealth for sustainable, inclusive and globally competitive growth. By aligning its operations with India’s atmanirbharta vision, Vedanta aims to turn the current global trade turbulence into a long-term competitive advantage, using its scale and integration to position India as a resource-secure, globally competitive economy.

Proxy Advisory Firms Back Vedanta’s Demerger Ahead of Key Shareholder Vote Starting Feb. 13

• Leading Indian and international proxy firms have supported the demerger, recommending that shareholders vote in favor of the proposals
• Shareholders & creditors will electronically vote on the proposed resolutions between February 13 and 17.
• Meetings of Vedanta’s shareholders and secured and unsecured creditors will be held on Feb. 18.

Vedanta’s demerger received another endorsement as five leading proxy advisory firms issued reports recommending shareholders vote in favor of the company’s proposed demerger, which would eventually create five separate listed entities. The voting process for shareholders and creditors will occur electronically from Feb. 13 to Feb. 17, ahead of the respective meetings scheduled for Feb.18.

Proxy advisors that have issued the reports include US-based Institutional Shareholder Services Inc (ISS), Glass Lewis, along with Indian firms Institutional Investor Advisory Services (IiAS), InGovern and Stakeholder Empowerment Services (SES).

The demerger will eventually result in five listed entities: Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, and Vedanta Iron & Steel, while certain existing and upcoming businesses will remain under Vedanta Ltd. The demerger will likely be completed by July.

Acknowledging Vedanta’s rationale that the demerger will help create independent global-scale companies, US-based ISS noted that Vedanta’s existing shareholders will get shares in each of the newly listed entities, resulting in no dilution. It said,

Shareholders of the company would continue to participate in the growth prospects of the four businesses through their direct equity interest upon completion of the scheme. The shareholding of [the resulting four companies] each will mirror the shareholding of the company. Each of these companies will eventually get listed on the two stock exchanges [NSE & BSE]. Given the above considerations and the sound strategic rationale behind the demerger…. this resolution warrants shareholder support.

Proxy advisor Glass Lewis said in its report that the one-to-one share exchange ratio ensures that shareholders will not experience any adverse economic effects from the eventual listing of the demerged entities. It also added that Vedanta’s management and the board are in the best position to determine what operational decisions are best in the context of the company’s business.

InGovern expects Vedanta’s minority shareholders to benefit as existing shareholders will get shares in the demerged entities. “Minority shareholders will effectively increase their total number of shares across multiple entities, potentially enhancing their overall investment value as these companies grow independently,” InGovern said in its report. “Given the clean swap of shares, which is beneficial for the minority shareholders as well as for the growth of all the companies, we recommend shareholders vote FOR this scheme of arrangement,” it added.

SES, too, observed in its report that the proposed valuation and overall distribution under the demerger is fair. “Effectively, pursuant to the demerger, these resulting companies shall create a mirror image of Vedanta’s shareholding pattern since all of them are wholly-owned subsidiaries of the company and subsequently its shares shall be publicly listed. Additionally, the company has adequately justified the rationale for the Scheme. Therefore, no concern is identified with respect to the proposed scheme for demerger,” it said.

Mumbai-based Institutional Investor Advisory Services (IiAS) also backed the demerger. As per IiAS, the proposed scheme of arrangement will result in unlocking the value of the four resulting companies. “The shares of the [four] resulting companies…. will be listed on the stock exchanges with mirror shareholding. Therefore, the economic interest of shareholders remains unchanged. Hence, we support the transaction,” the firm said in its report.

Brokerages are also bullish on Vedanta’s demerger. In its recent report on Jan. 31, Nuvama maintained a “Buy” rating on Vedanta with a target price of INR 663. “We expect demerger of the business to be likely conclude by end-Q1FY26 as Vedanta seeks lenders’ and equity shareholders’ approval on 18th Feb 25,” it said

Vedanta Resources Raises $800 Mn from Global Investors Through New Bond Issue

• 1.5x oversubscription, strong demand from US, EMEA & APAC regions.
• Proceeds to be used to prepay Vedanta’s outstanding bonds.
• The issue is expected to be rated B- by Fitch Ratings & CCC+ by S&P Global Ratings.

Vedanta Resources Finance II PLC (VRF) said in a Singapore exchange notification that it has raised US$800 million by issuing new bonds. The issue comprises two tranches of bonds– one with an aggregate principal amount of US$300 million of 10.25% Bonds due 2028 and the other involving an aggregate principal amount of US$500 million of 11.25% Bonds due 2031.

The bonds are expected to be rated “B-” by Fitch Ratings Ltd. and “CCC+” by S&P Global Ratings and will be listed on the electronic platform of Singapore Exchange Securities Trading Limited (SGX-ST). VRF will use the net proceeds from the issuance of the new bonds to prepay Vedanta’s existing bonds.

The bond issue received final combined orders of US$1.19 billion, indicating an oversubscription of 1.5X. The bids were received from existing as well as new set of investors across Asia Pacific (APAC), Europe the Middle East and Africa (EMEA) and US with more than 90% participation from asset / fund managers across both the tranches. As per VRF’s stock exchange notification, the final allocation of the Bonds includes 32% from Asia, 36% from EMEA, and 32% from US for the bonds due in 2028. For the bonds due in 2031, the allocation includes 35% from Asia, 23% from EMEA, and 42% from US.

A spokesperson for Vedanta Resources said “We are delighted by the tremendous response to Vedanta’s $800 million bond issuance. With this, Vedanta has successfully refinanced $2 billion worth of outstanding bonds in the past few months. The huge confidence and trust of the global investor community in Vedanta is reflected in the significant geographical spread and marquee names who have participated in these issuances.

Our commitment towards attaining a balanced capital structure through deleveraging our balance sheet remains our top priority. We have also achieved optimisation of costs on the entire $2 billion, represented by a saving of ~3% p.a. for the Company. We are confident of continuing to deliver substantial value to our global and domestic investors in the years ahead, and we will continue to evaluate all financing options going forward.”

This new issue comes as Vedanta has been gradually deleveraging its balance sheet, improving its capital structure, and lowering its financial costs by tapping bond markets as part of its liquidity management exercise. It is redeeming bonds with higher interest rates and issuing newer ones with a comparatively lower interest rate. Vedanta Resources has reduced its net debt by ~ $1 bn in the first half and refinanced bonds of over US$ 1.2 billion in the current fiscal.

In September, Vedanta raised US$900 million, the company’s first dollar bond issue in more than two years, to prepay existing bonds. The US$ 900 million raise was at a coupon rate of 10.875 percent in a five-year US dollar-denominated bond. Following this, VRF exercised a tap option on its September bond issuance, raising a further US$ 300MN.

Vedanta Resources to Sell 2.6% Stake in Vedanta Ltd to a Group of Institutional Investors

Vedanta Resources, the parent company of Indian metals-to-oil firm Vedanta, has decided to sell a 2.6% stake in Vedanta Ltd to a group of institutional investors,reported Reuters. This move comes as an U-turn from a week ago when Vedanta Chairman Anil Agarwal stated that there were no plans for a stake sale by the company's controlling shareholders.

The stake will be sold through Vedanta Resources' unit, Finsider International, which held a 2.63% stake in Mumbai-listed Vedanta as of March-end. The financial details of the deal and the names of the investors have not been disclosed yet. This decision aligns with Vedanta Resources' commitment to significantly deleverage its balance sheet.

The decision by Vedanta Resources to sell its stake in Vedanta Ltd could be influenced by several factors.

Vedanta Resources may be aiming to reduce debt on its balance sheet. Selling a stake in Vedanta Ltd could provide liquidity and help them manage their financial obligations more effectively. Companies often reassess their portfolio and strategic priorities. By divesting a stake, Vedanta Resources might be reallocating resources to focus on other core businesses or investment opportunities.

The total gross debt of Vedanta Resources stood at $6 billion as of March 31. On completing the stake sale, the firm would have reduced its debt by $650 million so far in fiscal 2025.

The timing of stake sales can be influenced by market dynamics. If Vedanta Ltd's stock price is favorable, it could be an opportune moment for Vedanta Resources to exit partially. Companies sometimes need to comply with regulatory requirements or maintain a certain level of public float. Selling a stake could help meet these obligations.

Institutional investors or active shareholders may have encouraged Vedanta Resources to unlock value by selling part of their stake. It is to be noted that these are speculative reasons, and the actual motivations may vary.

Vedanta Aluminium Plant at Jharsuguda (Odisha) Now the World's Largest, with 1.8 Mn Tonne Production Capacity

Vedanta aluminium plant at Jharsuguda (Odisha) is now the largest in the world. With a 1.8 million tonne production capacity, it supplies high quality aluminium to India and 60 other countries.

The plant, which has been operational since 2007, operates the world's largest single-location aluminium smelter outside of China, with a substantial production capacity.

As of the fiscal year 2023-24, it has been reported that Vedanta Aluminium produced 2.37 million tonnes of aluminium, making it not only India's largest aluminium producer but also operating the world's largest single-location aluminium smelter. The plant's capacity is a testament to its scale and the role it plays in the aluminium industry globally.

Vedanta Aluminium has been awarded the World No. 1 Rank in the S&P Global Corporate Sustainability Assessment (CSA) in 2023 among aluminium producers worldwide.

The company uses industry-leading technologies to pave the way for a sustainable future, offering high-quality aluminium products and alloys that find applications in various critical sectors.

The plant's coal-based thermal power station was commissioned in July 2008 and supplies power to the aluminum smelter. The plant sources coal from Ib Valley Coalfield and water from the Hirakud Dam reservoir.

Vedanta also operates the Bharat Aluminium Company (BALCO) in Korba, Chhattisgarh, which is acclaimed as one of India's greatest disinvestment and privatisation success stories.

These facilities are crucial for producing aluminium, which finds applications across various industries including aerospace, aviation, transportation, and more, and is increasingly important for sustainable and low-carbon technologies.

Vedanta Aluminium Launches World’s Largest Online Superstore for Primary Aluminium Products

Vedanta Aluminium launches Vedanta Metal Bazaar

• Vedanta Metal Bazaar sells over 750 aluminium products online, positioning it as a game-changing new offering within India’s aluminium landscape
• Offers host of global-first features like live shipment tracking, AI powered spot orders, financial reconciliation
• Brings ease, transparency and seamless buying experience of B2C ecommerce to B2B metal buying platform

Vedanta Aluminium, India’s largest producer of aluminium, announces the launch of Vedanta Metal Bazaar, an innovative new e-superstore for primary aluminium that promises to transform the way it is bought and sold in India. At launch, the superstore offers over 750-plus product variants, encompassing the extensive range of offerings from the stable of Vedanta Aluminium. It also features AI-based price discovery, offering customers unmatched value even in the face of fluctuating commodity prices.

Vedanta Metal Bazaar can be accessed directly via the following portal link: https://browse.vedantametalbazaar.moglix.com/catalog/aluminium. It is also available as a mobile app, ‘Vedanta Metal Bazaar’, which is downloadable through the Google Play Store and Apple App Store. Products on offer include ingots, billets, primary foundry alloy (PFA), wire rods, rolled products, flip coils, hot metal and Restora (India’s first low-carbon aluminium). In addition, the superstore also offers customized solutions tailored to the needs of the company’s wide customer base.

Vedanta Aluminium CEO Mr. John Slaven at the launch of Vedanta Metal Bazaar

Aluminium is a critical raw material for key sectors such as aerospace, automotive, building & construction, energy distribution, defence and many more. Identified as a vital metal for the global energy transition, it is also crucial to emerging sectors such as renewable energy, electric vehicles, green infrastructure and hi-tech manufacturing, earning it the sobriquet of the ‘metal of the future’. However, sourcing aluminium was hitherto a complex, resource-intensive process. Buyers must keep track of price movement, negotiate on multiple parameters which is often complex and time consuming, plan logistics and follow-up for financial reconciliation, often with no visibility of order delivery. Unforeseen disruptions could result in severe production and financial losses at the buyer’s end and tie up significant resources.

With a view to enhance ease of doing business for customers, Vedanta Aluminium has launched Vedanta Metal Bazaar, an innovative e-commerce platform poised to revolutionize the aluminium buying experience. It promises to simplify the entire procurement process, enabling buyers to focus on their business growth rather than wasting time on transactional follow-ups and tracking vagaries of commodity prices and order fulfilment. Aluminium is the second-most consumed metal in the world today, next only to steel.

Vedanta Metal Bazaar empowers buyers with just-in-time delivery, real-time AI-based price discovery and end-to-end visibility of their purchase, right from order placement to delivery. This allows for robust production planning and frees up their capital for more strategic investments. It also enables customers to make informed purchase decisions based on order history, dynamic market scenarios, and competitive rates in just a few clicks.

A pioneering new platform, Vedanta Metal Bazaar has been designed from the ground up, taking into account customer expectations towards ensuring a transformative experience. Several global-first features are integrated into the platform, including product availability, online price discovery, long-term contracts, on-the-spot orders, live shipment tracking, financial reconciliation, all critical documentation (such as test certificates, bank guarantees, letters of credit) and a selection of channel finance and logistics providers for customers to choose from to aid their procurement journey. This entire experience is supported by Vedanta Aluminium’s panel of in-house experts, who will be on-hand to guide first-time users and discuss specific customization requirements. The platform has been successfully beta-tested with select clients for a year and is now being rolled out widely for all domestic buyers.

Mr. John Slaven, CEO, Vedanta Aluminium said, “As one of the fastest growing economies in the world, aluminium is essential to India’s continued rise. At Vedanta Aluminium, we are driven by a customer-first obsession to constantly innovate solutions that not only ensure business success for our customers but also contribute to the overall growth of the country. Vedanta Metal Bazaar thus comes as a truly great reflection of what India stands for today: a potent blend of engineering prowess and digital innovation. It offers a world-class experience to a rapidly progressing nation, democratising access to top-quality aluminium by making it readily available to all sections.”

The key features of Vedanta Metal Bazaar include:

• Added access through mobile devices with a user-friendly interface – first in the non-ferrous industry
• Innovative ‘Agreement Tool’ for streamlining complex negotiations
• AI-powered Spot Orders and Live Shipment Tracking, the first in the metal industry
• No limit on quantity of material purchase
• Unique QR-based product authenticity verification and seamless feedback systems
• Reliable panel of channel finance and logistics providers for seamless procurement
• Direct access and simplified, smooth workflows for all customers – large and MSMEs
• Quick access to India’s first-ever low carbon ‘green’ aluminium range, Restora
• Single window to interact with Vedanta’s quality, technical support, product application, engineering, and innovation teams through a dedicated module
• Technical upskilling with access to the company’s Centre of Excellence, comprising a wide community of research institutes, industry associations, and global experts

Sharing his experience, Mr. Manoj Kumar Jain, Senior General Manager, KEI Industries, said, “I am truly impressed by Vedanta Metal Bazaar’s user-friendly platform. It provides all the necessary information, including test certificates, real-time credit balance, order history, as well as live location for dispatches – which is incredibly helpful. The online negotiation and MoU system build trust. I’m excited about upcoming features like live hedging and WhatsApp integration, which showcases their commitment to innovation.”

Mr. Abhishek Aggarwal, owner of Sant Aluminium, an enterprise from Alwar, adds, “As a business owner seeking a hassle-free way to buy aluminium, Vedanta Metal Bazaar exceeded my expectations. The platform is easy to use and there is no limit on purchase quantity. The feedback system contributes to better planning, and the mobile app is a handy tool for on-the-go order tracking. I highly recommend Vedanta Metal Bazaar for a simple and reliable metal procurement experience.”

Vedanta Aluminium Collaborating with ~ 60 Tech Startups on 90+ Projects to Enhance Operational Excellence

Last Wednesday, that was National Startup Day, Vedanta Aluminium, India’s largest producer of aluminium, celebrated its collaboration with nearly 60 cutting-edge technology startups on 90 diverse projects.

Going beyond conventional notions of manufacturing, Vedanta Aluminium said that it is utilising Industry 4.0 technologies such as Artificial Intelligence (AI), Natural Language Processing (NLP), Machine Learning (ML), Drone Technology, Computer Vision, Robotics and more, to drive operational excellence and innovation across its functions.

In celebration of National Startup Day, the company invited several leading startups for a multi faceted knowledge-sharing session to showcase the successful outcomes of their collaboration and demonstrate the impact of emerging technologies across Vedanta Aluminium’s critical operations. These include diverse scenarios such as the company’s smelters, alumina refinery, power plants, mines, material handling, supply chain, and HSE (Health, Safety, and Environment) practices.

Aligned with the ethos of ‘Startup India’ and ‘Make in India’, this endeavour was an integral facet of the company’s initiative, Vedanta Spark, a unique global corporate innovation, accelerator, and venture program that empowers startups to create large-scale impact by leveraging transformative technologies to solve business challenges at scale. Under the Vedanta Spark project, Vedanta Aluminium has fostered partnerships with deep tech startups for projects like predictive and prescriptive analyticsto enhance operational efficiency in smelters, IoT solutions for continuous monitoring of critical production parameters, advanced modelling for quality control of finished goods, startup optimization ofpower plants, AR/VR/XR simulations for safety training of employees, drone-basedsurveillance, and many more.

Speaking on the occasion, Mr. John Slaven, CEO, Vedanta Aluminium said, “The rise of India’s economy to global prominence is fuelled by itsyouthful dynamism and unwavering entrepreneurial zeal. The nation is home to one of the world’s most thriving startup and entrepreneurial ecosystems. As India’s largest producer of aluminium, Vedanta Aluminium complements the relentless drive radiating from these startups, leading to collaborative efforts for global excellence. With aluminium emerging as the cornerstone for a sustainable future, our path to exponential growth relies on being digital-first and future-ready. Therefore, we actively collaborate with tech startups, infusing cutting-edge technologies and global expertise to elevate our manufacturing and operational excellence."

Commenting on the collaboration, Raju Yadati – Founder & Director, Glovision Techno Services Pvt. Ltd. said, “At Glovision, we build cutting-edge cloud-based IOT applications for Vedanta Aluminium to optimize logisticsand transportation, thereby contributing to safer and more productive mining operations. It has been our privilege to work with the company."

Adding his views, Himanshu Srivastava, Director – Customer Success, ZestIOT, “We have deployed our propriety deep tech AI/ML algorithms which are used at the company’s Jharsuguda smelter operations to enhance accuracy and transparency in critical operations. We thank Vedanta Aluminium for their mentorship, which has been invaluable.”

To cultivate a culture of innovation and transform employees into intrapreneurs, Vedanta Aluminium has established ‘Innovation Cafés’ across its business units. These vibrant spaces serve as incubators for passion projects, where employees and business partners collaborateto tackle diverse business challenges, pooling internal expertise and producing innovative solutions. Simultaneously, the company actively nurtures an extensive ecosystem of rural and micro-entrepreneurs in its operational regions, which liein the hinterlands of the nation. Vedanta Aluminium’s expansive value chain, customer network, and supplier network have not only fostered numerous MSMEs but have also elevated manyto the status of valued suppliers and esteemed business partners for the company, helping them become a part of the global value chain.

Vedanta Aluminium, a business of Vedanta Limited, is India’s largest producer of aluminium, manufacturing more than half of India’s aluminium i.e., 2.29 million tonnes in FY23. It is a leader in value-added aluminium products that find critical applications in core industries. Vedanta Aluminium ranks 2nd in the Dow Jones Sustainability Index (DJSI) 2022 world rankings for aluminium industry, a reflection of its sustainable development practices. With its world-class aluminium smelters, alumina refinery and power plants in India, the company fulfils its mission of spurring emerging applications of aluminium as the ‘Metal of the Future’ for a greener tomorrow.

Vedanta Aluminium Dispatches First Supply of India’s 1st Ever Low-Carbon Green Aluminium To Telangana's Global Aluminium

With an order of 300 metric tons of "Restora Billets", Telangana's Global Aluminium is the first Indian customer for Vedanta Aluminium’s low-carbon product range

Vedanta Aluminium, India’s largest producer of aluminium, has dispatched its first domestic supply of Restora, the nation’s first-ever low-carbon ‘green’ aluminium, to Global Aluminium Pvt Ltd, a leading aluminium extrusion company based in Telangana. As part of the order, the company will supply 300 metric tons of Restora Billets to Global Aluminium, making it the first domestic customer of what is likely among the most sustainable products from the domestic primary aluminium industry today. The agreement thus also marks a significant milestone in the industry’s accelerated journey towards decarbonising its value chain, and will be fulfilled through Vedanta Aluminium’s mega smelter situated in Jharsuguda, Odisha.

Vedanta Aluminium is demonstrably the first in India to offer low-carbon aluminium, branded Restora and Restora Ultra (ultra-low carbon aluminium), to a global customer base, many of whom are increasingly focused on ensuring the sustainable provenance of their materials and actively decarbonising their value chains. Manufactured using renewable energy, Restora is produced with a greenhouse gas (GHG) emission intensity within 4 tonnes of CO2 equivalent per tonne of aluminium manufactured, which is the global threshold for aluminium to be considered as having a low-carbon footprint. Restora Ultra, made with aluminium recovered from dross (a by-product of aluminium smelting), has an even lower carbon footprint that is near zero and is amongst the lowest in the world.

The supply agreement will see Global Aluminium deploying Restora Billets supplied by Vedanta Aluminium in various extrusion profiles, undergoing in-house value addition including anodizing processes, aluminium powder coating processes, and precision machining facilities. The end products will cater to customized applications across a wide range of industries, including Automotive, Electrical & Electronics, Building, Construction & Architectural, Aeronautics, Air handling, Renewable industry, Defense, Automation, and more.

Sharing his views, Mr. John Slaven, CEO, Vedanta Aluminium said, “At Vedanta Aluminium, we are committed to providing our customers with an unmatched competitive advantage through sustainably produced products, while also continuously decarbonising our operations as well. Our Restora brand continues to garner an enthusiastic response from our customers globally and in India as well. We are happy to introduce our truly world-class Restora range into the domestic market, and are committed to working with our valued customers to realise a greener future for the planet.”

Adding his views, Mr. Anil Agarwal, Chairman and MD, Global Aluminium said, “Vedanta Aluminium is a trusted provider of high-quality solutions catering to our needs of high-quality and value-added aluminium. Its Restora range of products will be a gamechanger in enabling players in the domestic extrusion industry to reduce their carbon footprint and establish a greener value chain. This supply partnership is a true milestone in our decarbonisation journey and will further encourage sustainable practices in the industry.”

Keeping customers at the core of its product development and design process, Vedanta Aluminium offers them products benchmarked to international standards as well as a bouquet of advantages through 360-degree holistic solutions. With an extensive portfolio of products developed using best-in-class technologies from leading international providers, Vedanta Aluminium is well-positioned to cater to the rapidly evolving demands of its customer base.

Its products have been certified by the Bureau of Indian Standards (BIS), while also being verified as environmentally sustainable by Environmental Product Declaration (EPD) International, after undergoing a rigorous Life Cycle Assessment (LCA). Additionally, the Aluminium Stewardship Initiative (ASI), has also certified the company’s plant located at Jharsuguda, Odisha, a coveted marker of sustainable business performance worldwide.

Vedanta Aluminium, a business of Vedanta Limited, is India’s largest producer of aluminium, manufacturing more than half of India’s aluminium i.e., 2.29 million tonnes in FY23. It is a leader in value-added aluminium products that find critical applications in core industries. Vedanta Aluminium ranks 2nd in the Dow Jones Sustainability Index (DJSI) 2022 world rankings for aluminium industry, a reflection of its sustainable development practices. With its world-class aluminium smelters, alumina refinery and power plants in India, the company fulfils its mission of spurring emerging applications of aluminium as the ‘Metal of the Future’ for a greener tomorrow.

Vedanta Aluminium with IIT Kharagpur Develop Innovative Breakthrough, Gets Patent

Vedanta Aluminium patents innovative breakthrough in bauxite refining process

Developed in collaboration with IIT Kharagpur, the innovative process will enhance resource efficiency and curb energy consumption

Vedanta Aluminium, the largest aluminium producer in India, has announced the development of a groundbreaking process to significantly reduce the generation of bauxite residue, commonly known as red mud in the alumina refining process. The process reduces bauxite residue by a remarkable 30% by eliminating iron values while simultaneously recovering a higher alumina yield, reducing the total organic content from bauxite during the alumina refining. The process significantly enhances resource efficiency and curbs energy consumption during refining.

The research project was led by the company’s Research & Development (R&D) department in collaboration with the Department of Metallurgical and Materials Engineering, Indian Institute of Technology Kharagpur (IIT KGP), with special support from the Lanjigarh, Odisha unit, home to Vedanta’s world-class alumina refinery. This cutting-edge development will enhance the company’s operational excellence and have a sustainable impact on the global aluminium industry.

Bauxite is the primary ore for aluminium, and it undergoes an intermediate refining stage, known as the Bayer process, to produce alumina, which is then subjected to electrolysis to produce aluminium. This refining process generates bauxite residue as a by-product. To produce 1 kg of aluminium, it requires 2 kg of alumina, which consumes 6 kg of bauxite, leaving behind 4 kg of bauxite residue.

Managing this voluminous by-product sustainably has been a long-standing industry challenge. Vedanta Aluminium is actively engaged in minimising bauxite residue and exploring avenues to extract value from it. The company has developed a revolutionary process, which has been successfully validated in the laboratory and patented. Presently, the company is focusing on establishing a pilot plant to implement and assess the process, along with determining its potential advantages.

On the breakthrough, Mr. GG Pal, Dy. CEO – Alumina Business, Vedanta Ltd., said, “At Vedanta Aluminium, operational efficiency is of paramount importance for us in achieving sustainability. Toward this goal, we are aggressively focusing on our in-house R&D initiatives to drive tech-led innovative solutions to address existing industry problems.”

Sharing his thoughts on the development, Dr. Amit Chatterjee, Chief Research & Development Officer, Aluminium Business, Vedanta Ltd., said, “We look forward to implementing our groundbreaking process in bauxite residue management in our refinery operations. This is a significant milestone that will offer a pathway to enhanced resource efficiency and energy conservation and contribute towards reshaping the global aluminium industry.”

Dr. Chenna Rao Borra, Assistant Professor, Department of Metallurgical and Materials Engineering, IIT Kharagpur said, “Vedanta Aluminium’s dedication to R&D for sustainability goals is truly inspiring. The reduction of bauxite residue has been one of the key challenges for the aluminium industry, requiring significant technological advancements. The process, developed through the collaborative efforts of IIT Kharagpur and the company, will not only significantly improve bauxite residue management but also contribute to reducing the carbon footprint in the process.”

Vedanta Aluminium is the first company in the country to extract the entire volume of water from bauxite residue slurry and recycle it back into operational use, achieving Zero Liquid Discharge (ZLD) and demonstrating its commitment to water conservation. The remaining bauxite residue is densely packed in dried form and stored in a specially constructed and scientifically managed concretized area called the Bauxite Residue Reservoir. This containment method prevents bauxite residue from inadvertently leaching into the groundwater. For this processing purpose, the company was the first in the country to establish a Bauxite Residue Processing Plant. With the new method implementation, this residue generation will be reduced further.

Additionally, Vedanta Aluminium is actively collaborating with research institutes to develop innovative technologies for the utilization of bauxite residue. These technologies include the beneficiation of bauxite residue to enrich Rare Earth Elements (REEs), the recovery of alumina and iron values, and processes for extracting and separating titanium and REEs like Scandium. This effort is crucial because bauxite residue houses valuable metals, including iron, alumina, REEs, and titanium dioxide.

Vedanta Aluminium, a business of Vedanta Limited, is India’s largest producer of aluminium, manufacturing more than half of India’s aluminium i.e., 2.29 million tonnes in FY23. It is a leader in value-added aluminium products that find critical applications in core industries. Vedanta Aluminium ranks 2nd in the Dow Jones Sustainability Index (DJSI) 2022 world rankings for aluminium industry, a reflection of its sustainable development practices. With its world-class aluminium smelters, alumina refinery and power plants in India, the company fulfils its mission of spurring emerging applications of aluminium as the ‘Metal of the Future’ for a greener tomorrow.

Vedanta Invites Japanese Companies to Partner in India's Electronics Manufacturing Revolution

High level Indian industry delegation to Tokyo and Osaka as a precursor to the 10th Vibrant Gujarat Global Summit

Vedanta invited to showcase investment opportunities in Gujarat by the State Government

The State Government of Gujarat, in a strategic move aimed at fostering collaboration and investment prospects between Japan and India, invited Vedanta to the roadshow targeting Japan’s major electronics players, ahead of the 10th Vibrant Gujarat Global Summit. Vedanta, a global natural resources and technology conglomerate, highlighted the tremendous investment opportunities in India, especially in Gujarat, and urged Japanese companies to partner in India’s electronics manufacturing revolution.

Akarsh K. Hebbar, Global Managing Director of Vedanta’s Semiconductor and Display business, addressed a gathering of Japanese industry leaders at the Embassy of India in Tokyo and Osaka over the two-day roadshow. He underscored the investor- friendly climate in India, particularly in Gujarat, emphasizing the nation's commitment to providing Japanese companies with exceptional opportunities to engage in India's flourishing electronics manufacturing industry. He complimented the Government of Gujarat for their policy stability, good governance, excellent infrastructure facilities, and hand-holding for ease of doing business at every step by the State’s proactive and efficient team.

Talking about the huge opportunities in the country, Akarsh Hebbar said, “The demand for electronics in India is fuelled by the Indian Government's initiatives such as Make in India, Digital India, and 100 Smart Cities Mission, which aim to promote local manufacturing, digitalization, and technological advancement across various sectors. Additionally, the growing penetration of the internet and increasing adoption of e- commerce have further boosted demand for electronics. With a population of more than 1.4 billion, India presents a huge market opportunity for global electronics companies.”

He outlined Vedanta's ambitious plans to establish semiconductor and display fabs in Dholera SIR, Gujarat, and invited Japanese companies to partner with Vedanta in helping build the country’s first electronics manufacturing hub in the state. He also pointed out that the hub has the potential to attract hundreds of SMEs and create more than one lakh jobs.

Addressing the Japanese industry, he said, “There is an $80-billion opportunity for companies willing to come and invest in this electronics manufacturing hub, and Vedanta will be the anchor for Japanese companies interested in investing in India.”

Vedanta has a longstanding relationship with Japan, with group company AvanStrate Inc. headquartered in Japan. Late last year, the company signed agreements with 30 Japanese technology companies to foster the development of India's semiconductor and glass display manufacturing ecosystem.

The event was hosted by the H.E. Mr. Sibi George, Ambassador, Ambassador of India to Japan and H.E. Mr. Nikhilesh Giri, Consul General, Osaka Kobe. The Indian delegation was led by Mr. Vijay Nehra, IAS, Secretary, Department of Science and Technology and facilitated by Mr. Takehiko Furukawa, Director General, JETRO. Leading Indian and multinational companies based in India were part of the delegation.

Vedanta Limited (“Vedanta”), a subsidiary of Vedanta Resources Limited, is one of the world’s leading natural resources companies spanning across India, South Africa, Namibia, Liberia, UAE, Korea, Taiwan and Japan with significant operations in Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, Nickel, Aluminium, Power & Glass Substrate and foraying into semiconductors and display glass. For two decades, Vedanta has been contributing significantly to nation building. Governance and sustainable development are at the core of Vedanta's strategy, with a strong focus on health, safety, and environment. Vedanta has put in place a comprehensive framework to be the ESG leader in the natural resources sector, is committed to reducing carbon emissions to net zero by 2050 or sooner and aims to spend $5 billion over the next 10 years to accelerate this transition. Giving back is in the DNA of Vedanta, which is focused on enhancing the lives of local communities. Anil Agarwal Foundation, the umbrella entity for Vedanta’s social initiatives, has pledged Rs 5000 crore over the next five years on various social impact programs and its flagship project, Nand Ghar is setting up model anganwadis across India. Vedanta Ltd. has been listed in Dow Jones Sustainability World Index 2022, conferred Golden Peacock Award for excellence in Corporate Governance 2022 and certified as a Great Place to Work 2023. Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange.

Vedanta To Demerge Its Business Units Into Independent 'Pure Play' Companies

• Vedanta announces demerger of diversified businesses unlocking significant value
• To create world-class sector leading companies driving next phase of growth
• Capitalizes on India and the world’s growing demand for commodities, energy and technology

Vedanta Limited, India’s largest diversified natural resources company with a significant global footprint announces its plan to demerge its business units into independent “pure play” companies to unlock value and attract big ticket investment into the expansion and growth of each of the businesses. Vedanta is committed to best-in-class ESG practices and has a strong focus on metals critical for transition to green economy.

The announcement comes at a time when India is forecast to be the fastest growing major economy for the next several years. Indianweb2 reported about Vedanta Ltd considering to separately list all or some of its businesses, in late last month. More than ninety percent of Vedanta Ltd’s profits are derived in India. Demand for commodities is expected to rise exponentially as the country continues to build a world class infrastructure and strives to achieve aggressive targets for the energy transition which is highly mineral intensive. The Government of India’s emphasis on self-reliance will provide avenues for rapid growth for Indian companies in the commodities space.

Vedanta has a unique portfolio of assets among Indian and global companies with metals and minerals - zinc, silver, lead, aluminium, chromium, copper, nickel; oil and gas; a traditional ferrous vertical including iron ore and steel; and power, including coal and renewable energy; and is now foraying into manufacturing of semiconductors and display glass. Once demerged, each independent entity will have greater freedom to grow to its potential and true value via an independent management, capital allocation and niche strategies for growth. It will also give global and Indian investors potential to invest in their preferred vertical, broadening the investor base for Vedanta assets.

In pursuit of this goal, the Vedanta Limited Board approved a pure-play, asset-owner business model that will ultimately result in six separate listed companies, namely:

• Vedanta Aluminium
• Vedanta Oil & Gas
• Vedanta Power
• Vedanta Steel and Ferrous Materials
• Vedanta Base Metals
• Vedanta Limited

The de-merger is planned to be a simple vertical split, for every 1 share of Vedanta Limited, the shareholders will additionally receive 1 share of each of the 5 newly listed companies.

In addition to this, we note today’s announcement from Hindustan Zinc Limited (HZL, a subsidiary of Vedanta Limited), whereby their Board announced a comprehensive review of its corporate structure for unlocking potential value and intention to create separate legal entities for undertaking the Zinc & Lead, Silver and Recycling business of HZL.

The announcement is also available on the exchange website at www.bseindia.com and www.nseindia.com and HZL website at www.hzlindia.com.

Rationale for Demerger:

Simplifies Vedanta’s corporate structure with sector focussed independent businesses.

Provides opportunities to global investors, including sovereign wealth funds, retail investors and strategic investors, with direct investment opportunities in dedicated pure-play companies linked to India’s remarkable growth story through Vedanta’s world class assets.

With listed equity and self-driven management teams, these demergers provide a platform for individual units to pursue strategic agendas more freely and better align with customers, investment cycles and end markets.

Enables to better highlight, and for the market to more easily value, the remarkable technological advances, environmental stewardship and robust growth stories within Vedanta’s family of companies.

Anil Agarwal, Chairman of Vedanta, stated:

“This is an exciting announcement for Vedanta, and India. Our country is on an unprecedented growth trajectory which will make us the third largest economy in the world before the end of this decade. The demand for minerals, metals, oil and gas and power is going to grow very rapidly and Vedanta’s businesses are uniquely positioned to service this rising demand and reduce reliance on imports. Vedanta is also foraying into semiconductors and display glass which are of great strategic significance to India.

By demerging our business units, we believe that will unlock value and potential for faster growth in each vertical. While they all come under the larger umbrella of natural resources, each has its own market, demand and supply trends, and potential to deploy technology to raise productivity.

In line with Vedanta’s ethos, each company will continue to retain a strong commitment to the well-being of our workforce, our communities and our planet. Even as we move to new ways of running our businesses, we will remain steadfast to transform for good.”

Vedanta values remain embedded in the new entities

Vedanta Limited ranks 6th among 216 global metal and mining companies in the S&P Global Corporate Sustainability Assessment 2022. The Company aims to ensure that Vedanta DNA and focus on ESG transformation remain embedded post the unbundling exercise. These include:

The new companies will remain committed to achieving net-zero carbon emissions by 2050 and net water positivity by 2030 with the aims to spend $5 billion over the next 10 years to accelerate this transition. In the process of transitioning to net zero we already secured 1.8 GW of Renewable Energy through power delivery agreement across our group companies.

Vedanta’s digital-first approach and keen focus on advanced technologies has resulted in improved processes, strengthened cybersecurity, and easy access to information for effective decision making. Each of Vedanta's businesses has embarked on its own transformational journey towards digitalisation and innovation and these will continue.

Further information on the proposed new Entities:

Vedanta Aluminium

The Company’s Jharsuguda facility is the largest single-location aluminium smelting facility outside of China, and recently saw its capacity ramp up to 1.8 MTPA. It is accompanied by Bharat Aluminium Company Ltd. (BALCO, a 51% owned subsidiary of Vedanta Limited, taking total Group capacity to 2.4 MTPA).

In the most recent financial year ending – 31st March 2023, Vedanta Aluminium achieved its highest ever aluminium production of 2,291 kt, maintaining its place as the country’s largest supplier with c.41% market share in India among primary aluminium producers.

Vedanta Aluminium is on a path to grow production to 3 MTPA, whilst simultaneously improving its cost position to 1st quartile globally through full backward integration. Importantly, the business is growing production of green aluminium under the Restora and Restora Ultra brands and ranked 2nd in the Dow Jones sustainability index in 2022.

Vedanta Aluminium will be run by John Slaven, formerly of Alcoa and BHP.

Vedanta Oil & Gas

Vedanta’s Oil & Gas is the largest private oil, gas and sweet crude exploration and production company in India, accounting for more than a quarter of India’s domestic crude oil production. It is ideally suited to capitalise from India’s growing demand (c.50% growth anticipated by 2030). More broadly, the vision is to eventually contribute 50% to India’s total Oil and Gas production through diversifying its reserve and resources portfolio. The company’s footprint covers a total acreage of 65,000 square kilometres, with gross 2P and 2C resources in excess of 1.1 bn boe.

During FY 2023, the Company reported average gross operated production of 143 kboepd.

Vedanta Oil & Gas will be run by Steve Moore.

Vedanta Power

Vedanta Power will house the Independent Power Plants at Vedanta. Anchored by Talwandi Sabo Power Limited (TSPL, a wholly-owned subsidiary of Vedanta Limited), a 1980 MW plant based in Punjab, India, the business will also include the 600 MW Jharsugada power plant, the recently acquired 1200 MW Athena plant and the 1000 MW Meenakshi plant which is in the process of being acquired. Total capacity will therefore near 5GW post completion.

Vedanta Power is one of the largest private independent power players in India and backed by one of the world’s fastest growing power markets and a favourable political climate. 

Vedanta Power will be run by Vibhav Agarwal, currently CEO of TSPL.

Vedanta Steel and Ferrous Materials

Vedanta’s Iron Ore Business includes Iron Ore Goa, Iron Ore Karnataka, Liberia as well as VAB (Value Added Business). The company has aspirations to more than double annual iron ore production, from assets in India and Liberia to 13Mt by 2025.

This vertical will also include, ESL Steel Limited (ESL, a 95.49% owned subsidiary of Vedanta Limited), an Integrated Steel Producer, was incorporated in 2006 as a Public Limited Company with operations in Bokaro, Jharkhand, India. The company has set up a green field integrated manufacturing facility, which is currently commissioned at a capacity of 1.5 MT per annum, albeit with expansion to 3 MT per annum of hot metal capacity in progress (by mid 2024).

Vedanta Steel and Ferrous Materials will be run by Navin Jaju, currently CEO of Iron Ore.

Vedanta Base Metals

The proposed Vedanta Base Metals unit will contain a mix of strong international base metal production assets, growth projects and downstream businesses that feed directly into the supply chain for metals critical to global energy transition.

The Zinc International assets continued to ramp up production at Gamsberg mine in South Africa and achieved record production of 208kt in 2023. Black Mountain, also in South Africa, delivered significant production growth in FY23, generating 65kt on higher lead head grades and recoveries. Significant production growth is anticipated as Gamsberg Phase 2 ramps.

Vedanta’s copper business is capable of producing more than a third of India’s copper, Vedanta Copper’s assets in India consist of custom smelter, a refinery, a phosphoric acid plant, a sulphuric acid plant and a copper rod plant. The Company forecasts a resumption of production in 2024.

Vedanta Base Metals will be run by Chris Griffith, former CEO of Gold Fields and previously at Anglo American. 

Vedanta Limited 

Vedanta Limited will remain as an exciting incubator for new businesses including Vedanta’s technology verticals buttressed by the strong financial earnings of the Tier-one Hindustan Zinc assets.

The company will provide investors with the opportunity to invest in some of the world’s leading zinc production assets with a clear capital allocation policy, while benefiting from these nascent technology companies until they too are ready to be released as independent, globally significant businesses. These include Vedanta’s interests in Semiconductors and Display (offering exposure to India’s fast-growing $140bn electronics market) and Stainless Steel (Ferrochrome and Nickel). For Display manufacturing, Vedanta has finalized a technology partnership with Taiwanese firm Innolux and is also close to finalize partnership for Semiconductor manufacturing.

Hindustan Zinc Limited (HZL), a subsidiary of Vedanta Limited) is the world’s 2nd largest integrated zinc producer with a 1st quartile cost position and R&R of 460MT and mine life of 25+ years. It is also the 5th largest silver producer globally.

In HZL’s journey to achieving 1.25 mtpa MIC expansion, the final project of RD Beneficiation plant revamp is under execution at RD Mines and is on track. For further phase of expansion of Mines and Smelters, studies are under progress and results are expected in FY24.

There is a steadily growing demand for Zinc & Lead in industrial usage; Silver is a metal of the future with extensive use in emerging technologies like solar panels and electric vehicles. Recycling of metals is key to meet the future demand. In a world committed to combating climate change, the demand for recycled 'green' metal will grow exponentially.

Vedanta Limited will be run by Arun Misra, currently CEO of HZL.

Vedanta to Engage with 100+ Startups in Sustainable and Transformative Technologies

Launches Spark 3.0 initiative with opportunities up to USD 5 million for startups

Tied up with industry leaders such as MeitY and Nasscom's CoE, CII, Forge and Austmine

Vedanta announced the launch of the third edition of Vedanta Spark, their global corporate innovation, accelerator & ventures program aimed at providing over 100 projects opportunities worth up to $5 million to startups in sustainable and transformative technologies.

With the resounding success of the previous two editions, engaging over 80 startups for more than 120 opportunities of around $3.5 million, Spark 3.0 is set to contribute significantly to Vedanta’s transformation and the growth of engaged startups.

Ms. Priya Agarwal Hebbar, Chairperson, Hindustan Zinc Limited & Non-Executive Director, Vedanta Limited, said, “Vedanta Spark 3.0 is a testament to our commitment towards fostering innovation and collaboration. Through this initiative, we also aim to inculcate a start-up culture by enabling the businesses to collaborate with some of the brightest minds in the nation as well as usher in the next generation of industry leaders. This year we hope to increase focus on ESG transformation through innovative solutions and are also looking to engage with & support more women-led startups.”

Vedanta Spark's approach to fostering start-ups involves inviting solutions for real business challenges. Selected start-ups are provided opportunity to execute projects with Vedanta Group of companies and access to world-class infrastructure, resources, and insights from Vedanta's seasoned in-house experts. This empowers start-ups to refine their products, scale their operations, and achieve sustainable growth.

Mr. Arun Misra, CEO – Zinc Sector, ED - Vedanta Limited, Digital & Spark Anchor highlighted, “The Spark initiative aligns with the Group’s vision of supporting start-ups that leverage ground-breaking technologies to solve real business problems and shape the future of the industry.”

Vedanta has partnered with MeitY and Nasscom's Center of Excellence (CoE) for IoT & AI, CII’s CoE for Innovation, Entrepreneurship, & Start-ups and leading industry players like Forge Innovation & Ventures and to accelerate engagements involving emerging technologies. The program has also collaborated with global partner Austmine for advancing technology within the natural resources sector.

Mr. Amitesh Sinha, Head - Vedanta Spark, said “Spark 3.0 intends to bring forth more than 100 initiatives with opportunities upto $ 5 mn this year by partnering with innovative startups and utilizing their cutting-edge technologies. This collaboration serves as a powerful catalyst for Vedanta's mission of creating large-scale impact by harnessing open innovation and technologies”.

The initiative focuses on three key areas to drive innovation: enhancing business efficiency, digital transformations and achieving Net Zero sustainability goals. The startups will work across the Vedanta group of companies and provide them with an avenue to showcase their innovative ideas.

With the launch of Vedanta Spark 3.0, Vedanta Group reiterates its commitment to foster innovation and inspire startups to drive positive change, disrupt industries, and create a lasting impact on the global stage.

About Vedanta Limited

Vedanta Limited (“Vedanta”), a subsidiary of Vedanta Resources Limited, is one of the world’s leading natural resources companies spanning across India, South Africa, Namibia, Liberia, UAE, Korea, Taiwan and Japan with significant operations in Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, Nickel, Aluminium, Power & Glass Substrate and foraying into semiconductors and display glass. For two decades, Vedanta has been contributing significantly to nation building. Governance and sustainable development are at the core of Vedanta's strategy, with a strong focus on health, safety, and environment. Vedanta has put in place a comprehensive framework to be the ESG leader in the natural resources sector, is committed to reducing carbon emissions to net zero by 2050 or sooner and aims to spend $5 billion over the next 10 years to accelerate this transition. Giving back is in the DNA of Vedanta, which is focused on enhancing the lives of local communities.

Anil Agarwal Foundation, the umbrella entity for Vedanta’s social initiatives, has pledged Rs 5000 crore over the next five years on various social impact programs and its flagship project, Nand Ghar is setting up model anganwadis across India. Vedanta Ltd. has been listed in Dow Jones Sustainability World Index 2022, conferred Golden Peacock Award for excellence in Corporate Governance 2022 and certified as a Great Place to Work 2023. Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange.

For more information, please visit www.vedantalimited.com

Vedanta Considering Separately Listing All Or Some of Its Businesses

Vedanta Ltd is considering to separately list all or some of its businesses, which range from metals and mining to oil & gas and likely semiconductor chip making, said a Reuters report citing Anil Agarwal, the Founder and Chairman of Vedanta Group, one of the largest and diversified natural resources groups globally.

In a video message posted on YouTube, Agarwal said, "I have asked all my advisors and my people can we have all products (businesses that Vedanta operates) or some products to be independent,"

"If you have one share of Vedanta Ltd, you will have many shares of other companies and people will have an opportunity to invest in different areas. Some international companies want to invest in a particular area, they will get that opportunity," he said.

Earlier today, Vedanta stock falls 0.65% amid week market.

Notably, Vedanta had initiated proceedings against the Government of India for seeling an additional share in profit while renewing the company's licence for an oil block in Rajasthan's Barmer.

Agarwal wanted Hindustan Zinc, a unit of Vedanta Ltd, to buy some of Vedanta's zinc assets in a $2.98 billion deal, in order to bring down the group's $7.7-billion debt. However, the government of India which owns nearly 30% stake in Hindustan Zinc, opposed this move.

In early of last month, Vedanta announced the addition of semiconductors and display glass manufacturing ventures to its diversified portfolio.

In April, Vedanta signed memoranda of understanding (MoU) with 20 Korean companies from the display glass industry for the development of an electronics manufacturing hub in India.

Vedanta Ltd Adds Semiconductors and Display Glass Ventures to Its Portfolio

The natural resources conglomerate foresees major growth by twin technology ventures

Vedanta Limited, India’s natural resources and technology conglomerate today announced the addition of semiconductors and display glass manufacturing ventures to its diversified portfolio.

This represents a large growth opportunity for India where the semiconductor market stood at $ 24 bn in 2022 and is estimated to reach $ 80 bn by 2026. The display panel market is estimated to be worth $ 7 billion and is expected to grow to $ 15 billion by 2025. Currently, India imports 100% of these requirements. Vedanta Limited’s twin ventures will provide added momentum to the Government’s goal of Atmanirbharta in electronics.

The global semiconductor industry is at an exciting juncture. India is in a sweet spot to capitalize as the world looks to diversify critical supply chains in semiconductors and display fab. In approving these acquisitions, the Board of Vedanta Limited believes Vedanta and its shareholders, as well as India’s economy, can benefit from the tremendous opportunity these shifting global dynamics provides. The acquisition will be effected by way of a share transfer at face value of Twin Star Technologies Limited’s (“TSTL”) Semiconductor and Display SPVs. TSTL is a wholly owned subsidiary of Volcan Investments Limited, the ultimate holding company of Vedanta Limited.

Speaking on the development, David Reed, CEO of Vedanta’s Semiconductor Business, said, “I believe that India can become the next semiconductor hub for the world. It has all the ingredients for success.”

Vedanta Ltd will leverage its expertise in large-scale manufacturing and operational excellence and partner with the best global companies to drive the two businesses. Made in India semiconductors and display glass will facilitate affordable electronics - smartphones, laptops, televisions, and electric vehicles for all Indians.

Speaking on the occasion, Vedanta Chairman, Anil Agarwal said, “Vedanta is committed to making India self-reliant in electronics. This is the beginning of the creation of a Silicon Valley in India, a cutting edge and world class electronics ecosystem. My dream is for every Indian youth to have an affordable smartphone, laptop and an electric vehicle.”

Akarsh Hebbar, Global MD, Vedanta’s Semiconductor and Display Business, said, “We believe that semiconductors and display fab are at the core of any electronics ecosystem. This will also spawn the creation of multiple ancillary industries and opportunities in both downstream and upstream, creating jobs and will be a GDP multiplier.”

Y.J. Chen, CEO of Display Business, said, “This is India’s time to become only the 5th country in the world to

manufacture display glass. The impact on consumers in terms of affordability of devices will be huge.”

Vedanta has an existing presence in the LCD glass substrate business through its subsidiary Avanstrate Inc. which is a pioneering top global manufacturer of LCD glass substrates. Vedanta is therefore in a strong position to leverage the experience and expertise in its glass business to its new presence in the Display ecosystem in Japan, Korea and Taiwan.

A Memorandum of Understanding (MoU) has also been signed by the respective SPVs in September 2022 with the Government of Gujarat, to set up the semiconductor and display fabs, in Dholera, Gujarat.

About Vedanta Limited

Vedanta Limited (“Vedanta”), a subsidiary of Vedanta Resources Limited, is one of the world’s leading natural resources companies spanning across India, South Africa, Namibia, Liberia, UAE, Korea, Taiwan and Japan with significant operations in Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, Nickel, Aluminium, Power & Glass Substrate and foraying into semiconductors and display glass. For two decades, Vedanta has been contributing significantly to nation building. Governance and sustainable development are at the core of Vedanta's strategy, with a strong focus on health, safety, and environment. Vedanta has put in place a comprehensive framework to be the ESG leader in the natural resources sector, is committed to reducing carbon emissions to net zero by 2050 or sooner and aims to spend $5 billion over the next 10 years to accelerate this transition. Giving back is in the DNA of Vedanta, which is focused on enhancing the lives of local communities. Anil Agarwal Foundation, the umbrella entity for Vedanta’s social initiatives, has pledged Rs 5000 crore over the next five years on various social impact programs and its flagship project, Nand Ghar is setting up model anganwadis across India. Vedanta Ltd. has been listed in Dow Jones Sustainability World Index 2022, conferred Golden Peacock Award for excellence in Corporate Governance 2022 and certified as a Great Place to Work 2023. Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange.

For more information, please visit www.vedantalimited.com.

India’s Vedanta Group Signs MoUs with 20 Korean Companies from the Display Glass Industry

Vedanta’s successful roadshow at KOTRA’s Korea Biz-Trade Show 2023 supported by Indian government officials

Vedanta Group announced that it has signed memoranda of understanding (MoU) with 20 Korean companies from the display glass industry for the development of an electronics manufacturing hub in India. Vedanta was invited to a roadshow at the recently-concluded Korea Biz-Trade Show 2023 event organized by KOTRA – the state-funded trade and investment promotion organization operated by the Government of South Korea – in collaboration with Korea’s Ministry of Trade, Industry and Energy.

Akarsh K. Hebbar, Global Managing Director of Vedanta’s Semiconductor and Display business presented his plans of setting up a display fab in India. He invited prospective partners and customers to join Vedanta in establishing an electronics hub, supported by favourable government policies.

“More than 50 companies have shown their interest in partnering with us and we are pleased to announce that we have signed MoUs with 20 Korean companies engaged in the electronics manufacturing value chain,” said Akarsh K. Hebbar. “Along with the Indian Government, we showcased the immense investment opportunities that our country has to offer, supported by conducive policies, good talent and a robust innovation ecosystem.”

While pitching to business leaders from Korea’s electronics industry, Akarsh spoke about the scale and size of the proposed electronics ecosystem hub. He said that the hub had the potential to attract more than 150 companies and create upwards of 100 thousand direct and indirect jobs. He said that Vedanta’s greenfield display fab would be one of the anchors for this proposed hub, and offered help to any company willing to explore India as an investment destination.

Indian Government officials – led by H.E. Amit Kumar, India’s Ambassador to South Korea – participated in the roadshow and spoke about India’s investment-friendly policies. Shri Amit Kumar said that the Indian electronics industry is of one the fastest sectors in the country and is expected to reach $300Bn by 2026, driven by robust domestic demand, government incentives, and increasing consumer spending power. He pointed out that this presents a lucrative opportunity for Korean companies, known for their technology prowess and innovation, to tap into a vast and growing Indian market.

Manish Naik, Assistant Director, ICT and e-Goverance, Department of Science and Technology (GSEM), Government of Gujarat, showcased infrastructure facilities being offered at Dholera SIR, the country’s first industrial greenfield smart city, and outlined Government incentives on offer for Korean companies.

In December 2022, Vedanta had received a similar invitation for a roadshow in Japan, which was attended by more than 200 delegates from around 100 companies. That roadshow concluded with Vedanta signing MoUs with 30 Japanese firms.

Vedanta Group company Avanstrate Inc. is a pioneering leader in the display glass industry with manufacturing footprint in Korea and Taiwan. Avanstrate’s Pyeongtaek-si plant in Korea has been operational for more than 15 years, and manufactures Gen 4 to Gen 8 TFT display glass. The facility also serves as the company’s R&D center, working on developing wafer glass, ultra-thin glass, next generation cover glass and AR/VR glass applications.

About Vedanta Group

Vedanta Group ("Vedanta") is a diversified global natural resources and technology conglomerate. The group produces Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, Nickel, Aluminium, Power, Renewable Energy, and Display glass. Vedanta has operations in India, Zambia, Namibia, South Africa, Korea and Taiwan. Vedanta is foraying into the manufacture of semiconductors and displays, with plans to set up an integrated electronics center in India and is partnering with Foxconn for semiconductor manufacturing. With an empowered talent pool globally, Vedanta places strong emphasis on partnering with all its stakeholders based on the core values of trust, sustainability, growth, entrepreneurship, integrity, respect and care. Good governance and sustainable development are at the core of Vedanta's strategy, with a strong focus on health, safety and environment, and on enhancing the lives of local communities. The group is focused on becoming the ESG leader in the natural resources sector and is committed to reducing carbon emissions to zero by 2050 or sooner. It has pledged $5 billion over the next 10 years to accelerate the transition to net zero operations. The group's CSR philosophy is to eradicate poverty and malnutrition with a focus on development of women & children through the marquee project Nand Ghar.

Disclaimer

This press release contains “forward-looking statements” – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “should” or “will.” Forward–looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional, and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.

Vedanta Becomes This Year's Only Indian Co. To Join The Dow Jones Sustainability™ World Index

Becomes the only Indian company to join the prestigious index this year

Secures 6th position in Global Sustainability Rankings in the Metal and Mining Sector

Vedanta Ltd, a global diversified natural resources company, gets listed in The Dow Jones Sustainability World Index, one of the world's most trusted environmental, social, and governance (ESG) indices. Being the only addition from India this year, Vedanta is now among the 6 Indian companies in the index of 332 global companies. With this inclusion, Vedanta joins the ranks of global companies like Anglo American plc and Teck Resources Limited in the apex list. The company also gets listed in The Dow Jones Sustainability Emerging Markets Index of 111 global companies.

Vedanta ranked 6th out of 216 companies globally (98th percentile) and 2nd in Asia Pacific in the metal and mining sector of S&P Global Corporate Sustainability Assessment 2022, formerly known as Dow Jones Sustainability Index – DJSI. Vedanta has moved up 10 ranks up from last year with a strong 14-point improvement in the sustainability score.

Speaking on this achievement, Ms. Priya Agarwal Hebbar, Non-Executive Director, Vedanta Limited said, “Vedanta is honoured to be included in The Dow Jones Sustainability™ World Index and The Dow Jones Sustainability Emerging Markets Index. The inclusion in global indices and our improved rankings are a testimony to our commitment towards building a sustainable future. With focused action plans on decarbonization, water positivity, workplace safety, community welfare and workforce diversity, we are embarking on a transformative journey to emerge as industry leaders in ESG.”

Vedanta’s sustainability score witnessed a jump from 62 to 76 this year with an improvement in all three dimensions of E, S and G. The sectional scores were: Environment: 83 (+15 from last year); Social: 74 (+18 from last year) and Governance: 72 (+11 from last year).

The Dow Jones Sustainability Index is regarded as one of the most important benchmarks for sustainability and lists the world’s leading companies from 61 industries. With more than two decades of experience in ESG rating, DJSI is one of the oldest, trusted and referred ratings. DJSI assessed 216 global metal and mining companies on 120+ indicators across Environment, Social and Governance parameters on public and non-public information. The World Index comprises global sustainability leaders representing the top 10% of the largest 2,500 companies in the S&P Global BMI based on long-term economic, environmental and social criteria.

Vedanta has been at the forefront of sustainable practices and is leveraging new technologies to safeguard the environment and communities. The company is putting a comprehensive framework together to become leaders in ESG, thus reflecting their efforts through this ranking. Committed to being a net-zero organisation by 2050, Vedanta has pledged $5 billion in the next 10 years to accelerate the transition to net-zero operations. The group has also partnered with the World Economic Forum by joining 1t.org- the one Trillion Tree platform and pledges to grow 7 million trees for creating a resilient environment.

ABOUT VEDANTA LIMITED

Vedanta Limited, a subsidiary of Vedanta Resources Limited, is one of the world’s leading Oil & Gas and Metals company with significant operations in Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, and Aluminium & Power across India, South Africa and Namibia. For two decades, Vedanta has been contributing significantly to nation building. Governance and sustainable development are at the core of Vedanta's strategy, with a strong focus on health, safety, and environment. Vedanta has put in place a comprehensive framework to be the ESG leader in the natural resources sector. Vedanta is committed to reducing carbon emissions to zero by 2050 or sooner and has pledged $5 billion over the next 10 years to accelerate the transition to net zero operations. Giving back is in the DNA of Vedanta, which is focused on enhancing the lives of local communities. The company’s flagship social impact program, Nand Ghars, have been set up as model anganwadis focused on eradicating child malnutrition, providing education, healthcare, and empowering women with skill development. Under the aegis of the Anil Agarwal Foundation, the umbrella entity for Vedanta’s social initiatives, the Vedanta group has pledged Rs 5000 crore over the next five years on social impact programs with a thrust on nutrition, women & child development, healthcare, animal welfare, and grass-root level sports. Vedanta and the group companies have been featured in Dow Jones Sustainability Index, and was conferred Frost & Sullivan Sustainability Awards 2020, Golden Peacock Award for excellence in Corporate Governance 2022 and certified as a Great Place to Work 2022. Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange.

For more information, please visit www.vedantalimited.com.

Green Steel - Vedanta Exploring Tying-up with IIT-Bombay To Research on Using Hydrogen in Steel Manufacturing

Amid climate change crisis, when companies engaged in manufacturing using coal or other fossil-fuels is looking to reduce their carbon footprints, Sesa Goa Iron Ore, a Vedanta Group company engaged in exploration, mining and processing of iron ore, is looking for a tie-up with IIT-Bombay to carry out a research for manufacturing pig iron ore using hydrogen in place of coke (a type of coal).

Steel is combination of iron and carbon, and while the iron is obtained from iron-ore the carbon in steel is obtained from coke. Pig iron is an intermediary product before the Steel is produced. Pig Iron has high amount of carbon content then required for the end-product - 'Steel'.

Vedanta subsidiary, Sesa Goa Iron Ore, is looking to realize "Green Steel". For the same, the company is exploring to collaborate with IIT-Bombay for a study on the use of hydrogen in its steel production. Its in a nascent stage however.

Notably, Steelmaking is one of the most carbon emission intensive industries in the world. According to a last year's report, steelmaking is estimated to be responsible for 7-9% of all direct fossil fuel greenhouse gas emissions across the world.

If a steel manufacturing company is using a non-electric process for steelmaking and instead using coke/coal then there's too much of carbon emission in the process. First - using coke in melting raw iron (iron ore ) is itself increases carbon footprints and Second - releasing CO and CO2, when decarbonizing the pig iron, to convert it into proper steel. 

To make steel, the iron needs to be separated from the oxygen and a tiny amount of carbon needs to be added, which is accomplished by melting the iron ore at a very high temperature (1,700 degrees Celsius) in the presence of air and coke. Here the pig iron is obtained.

This Pig Iron is then converted to Steel by blowing oxygen through molten pig iron. In this process, some of the carbon in the iron converted into CO− and CO2, to turn it into steel.

Last year, consulting firm McKinsey identified a number of technologies for decarbonization including hydrogen usage, carbon capture and reuse, and maximizing use of electric arc furnaces powered by clean energy.

Sujal Shah, Deputy CEO, who is Vedanta's Sesa Goa Iron Ore Business, told news agency PTI, "We have our own vision of going towards the green steel. So my coke ovens will become green coke very soon, where I will be having all the coke-making through a green process, extracting, harnessing... 
and it will simply float over the grid. I would not require power from the grid, rather I would give power to the grid."

Vedanta has earlier committed to reduce carbon emissions to zero by 2050 or sooner and pledging US$5 billion over the next 10 years to accelerate the transition to net zero operations.