Vedanta to invest $30 mn in R&D – Feedback

Mining conglomerate Vedanta Resources will invest USD 30 million (about Rs 200 crore) in research and development (R&D) activities, its Chairman Anil Agarwal said today.

“The company will continue to invest in best-in class technology for all its assets. For this reason I announced this year 30 million dollars of funding for our in-house R&D programme,” he said. Speaking to shareholders at the London-listed firm’s annual general meeting, Agarwal said it is an exciting time for the Indian economy, which will drive the demand for commodities globally. “We are witnessing a gradual turnaround in commodities sector and I believe the worst is behind us. Vedanta has a high-quality portfolio of assets. We have demonstrated our efficiency as a low cost producer in a challenging market with lower commodity prices,” he added. The company has generated strong free cash flow, reduced net and gross debt and delivered strong EBITDA margins, the billionaire said.

http://www.business-standard.com/article/companies/vedanta-resources-to-invest-usd-30-mn-in-r-d-anil-agarwal-116080501934_1.html

About news

We take care of publishing the latest investment news and highlights for Feedback

Leave a Reply

Your email address will not be published. Required fields are marked *