There is good news for Vedanta investors. This year’s dividend will be more than last year’s dividend. In an EXCLUSIVE INTERVIEW with CNBC-AWAAZ, CHAIRMAN ANIL AGARWAL of VEDANTA COMPANY said that they will become the only producer of Nickel in India. Will pay off $4 billion in debt in 3 years. Apart from this, the company’s focus will continue to be on semiconductors and nickel. Here are the edited excerpts from the conversation with Anil Agarwal:
Commodity prices may rise further by 10-15%
Speaking on the ongoing geopolitical tension, Anil Agarwal said that geopolitical tension had an impact on the global market. Due to this, the prices of commodities are continuously increasing. Rising commodity prices is a matter of concern for India. Thereafter, the prices may increase further by 10-15%. The prices are less likely to come down in the coming days.
He further said that India imports most of the things needed. However, India has the ability to manufacture everything itself, so now it has become a necessity for India to be self-reliant.
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The company will produce 4000 tonnes of nickel in 2 years
Talking about nickel production, Anil Agarwal said that the country has good nickel deposits. There is no exploration of nickel in the country. Exploration policies need to be kept simple. With the ease of policies, many startups will emerge. There has been no more than 2% exploration in the last 10 years. Our company will produce 4000 tons of nickel in 2 years.
500 mines are still closed in the country
On the need for metals, Agarwal said that there is a huge need for metals in renewable energy, EV. The demand for base metals will continue to grow. It is necessary to increase the exploration of base metals in the country. The government should encourage companies for exploration. At present, 500 mines are still closed in the country. Steps should be taken to start them soon.
There is a need to reduce the dependence on imports in the country.
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The country’s largest manufacturer of optical fiber and the third largest company in the world
Taking the discussion further, Anil Agarwal said that his company is the largest in the country in manufacturing optical fiber. Apart from this, it is the third largest company in the world in manufacturing optical fiber. The company recently tied up with Foxconn to manufacture semiconductors. For this, an investment of $ 200 million will be made in the first phase. Not only this, semiconductor manufacturing will start in the next 2 years.
Now 100% electronics is imported
Speaking on imports in the country, he said that first 65% of electronics are imported in the country. But now India imports 100% of the electronics. Therefore we believe
The closed companies of electronics should be started again. At present, there is also a shortage of raw material for making electronics in the country.
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Plan to reduce debt of $ 400 million in 3 years
Speaking on the debt situation on the company, the Vedanta Chairman said that the company has a debt of $ 1250 million. The company plans to reduce debt by $400 million in 3 years. Now the copper mine is about to start in Africa. The profit of the company will increase further in the coming time. He stressed that his company has paid the highest dividend in the last 10 years.
He further said that till now in the current financial year, dividend of Rs 16000 crore has been given. At present, the company is focusing on reducing debt. Not only this, in the last 5 years, the company has paid tax of Rs 3.5 lakh crore. But we believe that to accelerate business and economy, the government should expedite the process of clearance.
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