Vedanta Defers Restructuring Plan but Continues $9.8 Billion Expansion, an Industrial Info News Alert
Researched by Industrial Info Resources (Sugar Land, Texas) — Vedanta Resources plc (LSE:VED) (London) announced a group restructuring plan in early September in response to shareholders requesting elimination of conflicts of interest and a simplification of the corporate structure. However, in view of the current changes in the global financial market and feedback from its investors, the company has deferred the restructuring plan to a time when market conditions are more favorable. Vedanta had intended to reorganize the company to strengthen its metal and mining business and planned to have three verticals units: Sesa Goa Limited (BSE:500295) (Panaji, Goa) for iron ore; Sterlite Industries India Limited (NYSE:SLT) (Tuticorin, Tamil Nadu) for copper, zinc, and lead; and Sterlite Aluminum (Salem), an aluminum and energy unit.
For details, view the entire article by subscribing to Industrial Info’s Premium Industry News at http://www.industrialinfo.com/showNews.jsp?newsitemID=139640, or browse other breaking industrial news stories at www.industrialinfo.com.
Industrial Info Resources (IIR) is a marketing information service specializing in industrial process, energy and financial related markets with products and services ranging from industry news, analytics, forecasting, plant and project databases, as well as multimedia services. For more information send inquiries to metalsandmineralsgroup@industrialinfo.com or visit us at www.industrialinfo.com.
Related News Articles
Vedanta Plans 100 Million-Ton Sesa Goa Iron Ore Capacity Expansion
Indian Oil and Coal Companies Discuss Setting up $1.5 Billion Coal-to-Liquid Plant in Assam
India’s Power Sector Attracts Investments of $48.75 Billion in the First Half of 2008
Contact: Joe Govreau 713-783-5147
SOURCE: Industrial Info Resources
