Mumbai: Natural resources major Vedanta is eyeing a quantum jump in revenue growth in the next three years, banking on its strong performance in the last one year and huge capital expenditure programme. The company is aiming at 60 to 70 per cent revenue growth once its Rs 55,000 crore capex programme get completed in the next three years, sources said.
The company, which has completed Rs 10,000 capital expenditure in the just concluded year, has a capex programme of Rs 55,000 crore for the next three years. Of this, Rs 25,000 crore is for base metal production expansion, Rs 20,000 crore will be spent in the oil and gas sector and the remaining Rs 10,000 crore in aluminium.
Most of the capex funds will be met through internal accruals and the company will not go for any external debt for this. Following this expansion and the projected growth plans, Vedanta will be the largest zinc producer and rank among the top three silver producers globally.
The company commissioned the Gamsberg mining complex in South Africa earlier this year, which has the world's largest zinc deposits.
Vednata, the country's largest primary producer of aluminium, is expecting 50 per cent volume growth to 3 million tonne spread over the next three years from the current 2 million tonne.