5/11/2023 0 Comments Business by R.S. AgarwalIt has two main assets: a 50.1 per cent stake in Mumbai-listed Vedanta Ltd and a 79.4 per cent holding in KCM, a copper mine and smelter in Zambia, which has been seized by the government. He dismissed concerns about paying upcoming debt maturities, saying the group generates enough cash flows every year to meet all its obligations.Īgarwal built the large natural resources group using borrowed money to buy distressed assets from the government and mining companies around the world. other licences (required for chip manufacturing) we have to take. "We have a fantastic partner in Taiwan's Foxconn. "People are standing with bags of money, money will never be a constraint," he said. "Why should India remain a third-world country," he asks.Īsked about financing and technology tie-ups for the semiconductor plants, he said USD 1.5 billion has been allocated by the group, which should be sufficient to meet the initial roll-out requirements. This can happen if natural resources are explored, imports reduced and more jobs created. Agarwal said India's per capita income should rise to USD 5,000 from the current USD 2,000.
0 Comments
Leave a Reply. |