Vedanta Chairman Meets Rajasthan CM, Discusses Investment Plans

Jaipur, Jul 7 (PTI) Vedanta Group Chairman Anil Agarwal on Sunday met Chief Minister Bhajanlal Sharma to discuss the state's outlook and plans for the natural resources sector.

Vedanta has made investments in excess of Rs 1.50 lakh crore in Rajasthan to date. Two of its flagship businesses Hindustan Zinc Limited, the world's second-largest integrated zinc producer, and Cairn Oil & Gas have their largest operations in the state.

"The discussions with Chief Minister Bhajanlal Sharma were highly productive, sharing the vision of his government for the state's growth centred around transparency, efficiency, and value to global investors," Agarwal said in a statement.

Agarwal said he discussed the state's outlook and plans for the natural resources sector -- metals, minerals, and oil & gas - which is crucial for creating large-scale employment opportunities and contributing to the state's economic growth, as well as nation-building.

He said that under his leadership and our long-standing partnership, the government's thrust on mineral exploration, value-addition, research and development, and innovation will lead to a glorious chapter in the legacy of this incredible state.

The company stated that under Vedanta's leadership, Hindustan Zinc's market capitalization, since its disinvestment in 2002, has grown more than 400 times from about Rs 650 crore (USD 100 million) to about Rs 2,90,000 crore (USD 34 billion).

Cairn Oil & Gas, also part of the Vedanta Group, contributes 25 per cent of the country's domestic crude production, a large part of which is from its operations in Barmer, Rajasthan.