Jaipur: Chairperson of Vedanta Anil Agarwal on Saturday said that the group had tightened plans to invest RS 40,000 Crore to expand the production capacity of Zinc Hindustan and Cairn, but the priority would produce gas flakes in Rajasthan, which will be carried out in nine months.
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Both Hindustan Zinc and Cairn India are part of the Vedanta group.
Speaking between interactive sessions with the business community organized by FICCI-Rajasthan here, Agarwal said the group also planned to invest $ 15 billion (around RS 1,500 Crore) to establish manufacturing facilities for LCD panels (Liquid Crystal Display) used in Cellphones, laptops, televisions and other electronic products.
However, he is not committed if this facility will appear in Rajasthan.
“76,000 CRORE RS incentive plans to lure the semiconductor assemblers and display manufacturers are a big decision.
At present, India imports 90% of its electronic goods, including cellphones, TV and laptops.
But the approval of a faster project will change the scenario completely in three years, “He said.
“Personally, I am interested in establishing an LCD unit here.
But partners and funding will have the word final.
They are currently evaluating government policies in Gujarat, Karnataka, Tamil Nadu and other countries.
They will decide on location based on state policy, “Agarwal said.
Avanstrate, a Japanese company that Azarwal received four years ago, has made a glass substrate for high-resolution and high-sized LCD transistor panels, thin films.
At Shale Gas, Agarwal said India did not produce this gas today.
“Throughout India, Rajasthan has the greatest potential to produce gas flakes.
This is the second Texas in the world.
We have investments intended by Rs 40,000 Crore for capacity expansion in Cairn India and Hindustan Zinc, but priorities will be a shale exploration and production by Cairn .
In nine months, we will produce gas flakes in Rajasthan.
This may be a limited amount at first, but we will reach the target, “he said.
Agarwal said Rajasthan had the potential to significantly improve the overall economic conditions of the country.
“This is abundant circumstances in natural resources and with oil production, copper, gold, zinc, tin, etc., the import of the state can be greatly reduced.
At present 70% of state revenues are spent on imports,” Agarwal added.