Reported about 5 hours ago
Indian billionaire Anil Agarwal is working on a significant restructuring of his conglomerate Vedanta Ltd. to reduce its $11 billion debt while focusing on various sectors. As commodity prices cool off, Agarwal believes that the company's simplification will attract investment amid strong demand for critical minerals, particularly as they expand operations in the Middle East and Africa. The plan includes a $2 billion investment in Saudi Arabia for copper processing and efforts to decrease debt through strategic financing. Agarwal is also preparing the next generation for leadership as he envisions a future centered on critical minerals and energy transition.
Source: YAHOO