Production, operation of Vedanta less impacted due to second wave of COVID-19: Anil Agarwal

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New Delhi, Jul 1(PTI) Mining baron Anil Agarwal on Thursday said the second wave of COVID-19 has been a 'big challenge' for Vedanta, but stressed that the company's production and operations were less impacted from the pandemic.

Agarwal, who is the chairman of Vedanta Group, said that though the company has not been able to supply its material in India as much as it wanted on account of COVID-19, but it managed to export a lot during this pandemic period.

'This (second wave of COVID-19) was a very big challenge for us... But by and large I would say our company has been less impacted as far as production and operation (at Vedanta) is concerned,' Agarwal said during a media roundtable.

When asked how the company has prepared itself for the possible third wave of COVID-19, Agarwal said 'the third wave is very unpredictable.' The Vedanta chairman said he is looking at about 15 per cent yearly growth.

'The company has a capex programme of about USD 5 billion which we are going to spend in three years time by which we will be able to increase our capacity by more than 50 per cent of what we are producing today,' he said.

The company, he said, will be generating over USD 7 billion profit this year.

Vedanta Ltd, a subsidiary of Vedanta Resources Limited, is a leading oil and gas and metals company globally. It has significant operations in oil and gas, zinc, lead, silver, copper, iron ore, steel, and aluminium and power sectors across India, South Africa, Namibia, and Australia. PTI SID MKJ

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