(ET)
The Vedanta group will seriously evaluate acquiring the government’s stake in BPCL and will bid for commercial coal blocks that will be offered as it will itself need up to 100 million tonnes to generate power but its decisions would depend on the valuation of assets, its chairman Anil Agarwal said.
Agarwal also said he expects private investment in India is likely to pick up in a year, and that the business community had a lot to gain from the deepening relationship with India as evident from the warmth between US President Donald Trump and Prime Minister Narendra Modi. He said the Vedanta Group had placed orders worth $4 billion to US companies for work related to its oilfields.
“American companies want to invest in India. We have the same value system. Our credibility is very, very high,” he said. The government should quickly offer coal blocks and accelerate the process of disinvestment as “the government has no business to be in business”, he said.
