Vedanta chairman meets Rajasthan CM

08 Jul 2024 CW Team

Vedanta Group Chairman Anil Agarwal met with Chief Minister Bhajanlal Sharma on Sunday to discuss the state's plans and outlook for the natural resources sector. Vedanta has invested over Rs 1.50 trillion in Rajasthan, where its key businesses, Hindustan Zinc Limited and Cairn Oil & Gas, have their largest operations. Hindustan Zinc Limited is the world's second-largest integrated zinc producer. Agarwal reportedly stated that the discussions with Chief Minister Sharma were highly productive, highlighting the government's vision for the state's growth focused on transparency, efficiency, and attracting global investors. He mentioned that their talks covered the state's plans for the natural resources sector, including metals, minerals, and oil and gas, which are crucial for creating large-scale employment opportunities and contributing to the state's economic growth and nation-building. Agarwal also noted that under his leadership and their long-standing partnership, the government's emphasis on mineral exploration, value addition, research and development, and innovation would lead to a significant chapter in the state's legacy. The company indicated that under Vedanta's leadership, Hindustan Zinc's market capitalization has increased more than 400 times since its disinvestment in 2002, growing from about $100 million to about $34 billion. Cairn Oil & Gas, another part of the Vedanta Group, contributes 25% of the country's domestic crude production, with a significant portion coming from its operations in Barmer, Rajasthan.

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