Affected by POSCO, Vedanta projects, people prepare for the final battle after Vedanta and its Indian subsidiary, Sterlite, got the green signal to mine Niyamgiri for bauxite, Dongria Kondhs living in the hills have stepped up their vigil. They are determined to oppose any attempt at mining the hills.
Wanton usage of forest land in the name of development has destroyed efforts towards community-led measures for protection and conservation in Orissa. The laxity in framing adequate environmental laws and the flouting of even the existing laws have had disastrous effects on the livelihoods of forestdwelling people in the state.
VEDANTA Resources has decided to revamp its corporate structure by consolidating its metals operations into three verticals. Sterlite Industries would focus on copper and zinc, Vedanta Aluminium would deal with aluminium, and the third vertical would concentrate on iron ore.
The move will help simplify the corporate structure, cut costs and ensure fewer cross-holdings, while also providing dedicated teams for aluminium, iron ore and copper & zinc businesses.
UNLOCKING VALUE: Anil Agarwal (left), Chairman, with Kuldip Kumar Kaura, Managing Director and CEO, Vedanta Resources, addressing a press conference in Mumbai on Tuesday.
MUMBAI: Vedanta Resources on Tuesday announced a restructuring exercise to simplify its corporate structure and eliminate cross holdings among group businesses. It will organise the group corporate structure into three commodity focussed verticals
Vedanta Resources said it is planning to ramp up iron ore mining capacity eight-fold to 100 million tonnes in five years, Chairman Anil Agarwal said on Tuesday.
Billionaire Anil Agarwal-controlled Vedanta Resources has decided not to pursue a proposal to build a Rs 20,000-crore five-million-tonne steel project in Orissa in view of its strategy to focus on non-ferrous and iron ore businesses, two highly-placed sources in the company said today.
Mumbai (PTI): Aiming to increase its efficiency, NRI Anil Agarwal-led Vedanta Resources on Tuesday announced a plan for re-aligning its corporate structure into three commodity focussed verticals.
The group structure would be simplified into three verticals -- copper and zinc-lead, aluminium and energy, and iron ore, Sterlite Industries informed the Bombay Stock Exchange.
BATTLEGROUND FARMLAND
Bs Reporter / New Delhi September 04, 2008, 1:03 IST
The Anil Agarwal-owned Vedanta group has made substantial headway in land acquisition for its three projects in Orissa which entail a combined investment of over Rs 30,000 crore.
The group needed 11,700 acres for its university at Puri, an alumina refinery at Lanjigarh, and its smelter and power project at Bharkhamunda near Jharsuguda. It has already acquired about 7,515 acres.
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