Vedanta Ltd, a Mumbai-listed mining conglomerate, is looking for a global partner for its $20-billion expansion projects across multiple industries.
As it restructures into four entities—Vedanta Aluminium, oil and gas, power, and iron and steel—the company said in a statement that the move is in line with Vedanta's strategic plans to greatly expand its operations over the next three years.
According to the company's official LinkedIn page, "We are seeking a seasoned international engineering firm with expertise in engineering, procurement, and construction management (EPCM) to carry out our projects and serve as an extension office for us."
Furthermore, the company stated that it will invest $20 billion in growth projects in metals, mining, and hydrocarbons over the next three years.
These projects are extensions of the company's current operations, it added.
"The interested companies are invited to submit" their relevant experience, profile, and current projects under execution, the company said, adding that the "Expression of Interest (is) to be submitted by April 30, 2025."
The diversified natural resources company had previously announced that it would postpone its demerger by a quarter to June-July.
Vedanta's Chief Financial Officer Ajay Goel previously stated that the demerger is in its final stages and that the company expects it to be completed in June-July of this year.
Previously, the company stated that the demerger would be completed by the end of fiscal year 25.
The approval of the demerger proposal will allow the company's various business verticals to become separate entities.
The mining company had revised its demerger strategy and decided to keep its base metal operations within the parent company.
Vedanta Chairman Anil Agarwal previously stated that the proposed demerger of the company's diverse verticals, which represent more than 15 commodities, will transform it from asset managers to asset owners.
Vedanta is focusing on consolidating and strengthening its asset base as it enters the transition phase, with the goal of emerging as a world leader in each of its verticals, according to the chairman.
After receiving approval from lenders, the diversified natural resource company applied to the NCLT for a demerger.
According to the company, the demerger will help to simplify its corporate structure by establishing independent businesses. It will also provide global investors with direct investment opportunities in pure-play companies related to the country's impressive growth.
