Vedanta Resources plc, a London Stock Echange company, describes itself as "India’s largest non-ferrous metals and mining company based on revenues." The company is also eXpanding into the power generation business.
- Srinivasan Venkatakrishnan - Chief Executive Officer
On its website Vedanta Resources states that its commercial power generation business "comprises of the sale of power from 100MW plant at MALCO, 270 MW plant at BALCO - I and 123 MW wind power plant at HZL, and the surplus power sales from various captive power plants."
In addition the company is building or proposing two major new coal-fired power stations. These are:
- a 2,400 MW ( 4 x600 MW units) coal based commercial power plant at Jharsuguda, Orissa. The first units of the plant were commissioned respectively in November 2010 and April 2011 with the remainder scheduled to be commissioned in late 2012. The project has been built by Vedanta Resources energy subsidiary, Sterlite Energy.
- a 2,640 MW super critical coal-fired project at Talwandi Sabo in Punjab. The Talwandi Sabo Power Project is scheduled to be commissioned in late 2014. The project is being built by Talwandi Sabo Power Limited, a special project company created by the State of Punjab for the project, is now a wholly owned subsidiary of Sterlite Energy.
"World's most hated company?"
An article in The Independent entitled "Vedanta Resources: The World's Most Hated Company?" detailed a series of protests by churches, pension funds, human rights groups, tribal groups, and environmental groups against Vedanta's conduct of its mining operations in India. According to the article, the Church of England, state pension funds of Norway and the Netherlands, BP, and others have reduced their stakes in the company due to the Vedanta's human rights and environmental record. The article singled out Vedanta's planned mine and an alumina refinery in the Niyamgiri Hills in Orissa, including a mountain regarded as sacred by the the Dongria Kondh tribal group .
Vedanta Resources plc
16 Berkeley Street
London, United Kingdom
Tel: +44 20 7499 5900
Fax: +44 20 7491 8440
Resources and articles
Related GEM.wiki articles
- Vedanta Resources, "Company profile", Vedanta Resources website, accessed November 2011.
- Vedanta Resources, "Commercial Power Generation Business", Vedanta Resources website, accessed November 2011.
- Sterling Energy, "Jharsuguda Power Project", Sterling Energy website, accessed November 2011.
- "Project", Talwandi Sabo Power Limited website, accessed November 2011.
- "Overview", Talwandi Sabo Power Limited website, accessed November 2011.
- "Vedanta Resources: the world's most hated company?" The Independent, July 29, 3010