Vedanta Plans 100 Million-Ton Sesa Goa Iron Ore Capacity Expansion, an Industrial Info News Alert
Researched by Industrial Info Resources (Sugar Land, Texas) — Vedanta Resources plc (LON:VED) (London) recently announced plans for an eight-fold increase in the iron ore production capacity of its Indian subsidiary Sesa Goa Limited (BOM:500295) (Panaji, Goa) to 100 million tons per year over the next five years. Vedanta will make initial investments of about $700 million in Sesa Goa to attain production of 25 million tons per year by 2010. Vedanta currently holds a 57% equity interest in Sterlite Industries India Limited (NYSE:SLT) (Tuticorin, Tamil Nadu), which operates aluminum, copper, lead and zinc businesses.
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SOURCE: Industrial Info Resources