Business News / Vedanta Group Chairman Anil Agarwal said- Will sell Vedanta's steel business if it gets the right price

Business News: Vedanta Group Chairman Anil Agarwal said on Wednesday that the group is targeting an investment of US $ 20 billion across all its businesses within the country in the next four years. Aggarwal told reporters here that this investment will focus on technology, electronics and glass business besides other activities of Vedanta Group. He said the group will sell the steel business at the right price and is committed to continuing running it if the right price is not received. Aggarwal said that semiconductors and glass required in making smartphones and laptops are very important in the future and the group is present in both the segments.

Want to help Bihar move forward

The group has land in Gujarat for a semiconductor plant and is looking for a strong and reliable partner for it. Aggarwal, a billionaire entrepreneur, said he wants to play a catalytic role in helping his home state Bihar move forward. But he said that this requires strong support on the policy front. Aggarwal was speaking on the sidelines of an event where the group announced the expansion of its charitable activities.

Will sell steel business after getting right price

When asked about the sale of steel business, he said that it would be considered only after getting the right price. There was speculation that the group's steel business would be sold by March 2024. On concerns over the company's debt position, Aggarwal said the company's total debt is currently only $12 billion and it looks like it can be managed. He said the group has never defaulted on any of its loan commitments. Vedanta said it plans to increase the number of its 'Nand Ghars' from 6,000 to 25,000 in the next two years. Under the Nand Ghar scheme the group takes care of the nutritional needs of children in the villages.