New Delhi: Chairman of the Vedanta Group Anil Agarwal said his company was looking to invest around $ 20 billion in India, including in the privatization of BPCL, the shipping company and Hindustan copper.
In an interview for TOI on the sidelines of the Dubai exhibition, he suggested there was pressure from foreign entities to block manufacturing in India, including through concerns over the environment and other problems.
Quotes: What companies & sectors that attract your interest in the Disinvestment list? In a democratic country, the government does not run a business.
Our existing assets can be swept three times and so privatization is a good step.
At current market prices, the government can obtain $ 1 trillion.
I think, 20% must privatize and the rest must be corporatized, where public shareholders come and no one must have more than 10%.
Professional boards can do phenomenal work.
We will evaluate everything, and we are evaluating BPCL, Hindustan’s shipping and copper company, if it comes.
If BPCL comes to us, people will be happiest because we will not splash anyone.
At the same time, they will have re-integration in terms of fuel supply from Cairn.
The government must sell things on a basis – is so that things can be faster.
Maybe, this month they will tell us when a financial offer must be delivered and it must happen in the next two-three months.
How do you finance it? We have floated funds for $ 10 billion and we have received extraordinary responses from several investors, including some sovereign assessment funds.
Funds will never be a problem.
You have proposed to resign Vedanta, is it still on the table and how will it help be given worries? We have 51% share ownership, which is now 66%.
I am very happy that the shareholders accompanied me and we had no plans for the company delist.
What are the plans to overcome debt in the future? We have the lowest debt in the corporate sector.
We have profits of $ 7-8 billion this year and debt of around $ 12 billion, including in the parent company.
We have invested almost $ 50 billion to make assets, which have great value.
We want to invest $ 20 billion to expand our capacity.
We have sweet crude oil and the government is framed policy for freedom of marketing through self-certification.
Your companies have faced many criticisms from environmental lovers and your Tamil Nadu plants are closed.
Why are you always in the center of such controversy and do they affect your investment? Vedanta in natural resources and the world does not want India to produce.
We have the highest certification of several institutions.
When Tuticorin was closed, we went to the Supreme Court and Ngt looked at him and came up with a clean report.
We are a democratic country, people can enter anywhere and request production termination.
We have the highest ESG level compliance (environment, social and governance).
When the US grew up, ordinary people said Rockfeller took oil from the sand.
We cannot depend on exports, which makes money flowing out of India.
It is important to accelerate forest permissions along with essence time and we must move to self-certification.
If anyone violates the norm, he must face the highest penalty.
Do you suggest ‘foreign hands’ while playing? Always.
The world does not want India to produce but become a market.
We don’t have to be a country that depends on imports.
We are very aware of our responsibilities and we have to move forward.
There is a problem around the bankruptcy videocon, where you are the highest bidder, amid accusations about the entire process.
Your offer is right above the reserve price.
Your view? Anyone can say anything.
The process takes two years and is evaluated by the creditorship committee.
We have provided equity and has offered Rs 3,000 Crore.
SC has said that we have to move forward after being approved by the COC.
We offer the highest price.
We are very aware that electronic manufacturing must come to India.
We have full trust in our bank and justice.
Vedanta to invest $ 20 billion, PSU eyes in the sale list
