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Vedanta to Focus on `Purse Strings' Amid Aluminum Expansion

  • Company aims to double alumina capacity, raise aluminum by 30%
  • Cost reduction will be key for expansions: CEO Venkatakrishnan

India’s biggest aluminum producer Vedanta Ltd. is prioritizing controlling costs as it embarks on expanding capacity, according to the chief executive officer.

“Any expansion plans, we will do it with the strictest capital discipline and balance sheet focus,” according to Srinivasan Venkatakrishnan, who was the CEO of Johannesburg-based AngloGold Ashanti Ltd. for five years before taking the helm at Vedanta in 2018. “We will control the purse strings quite tightly.”