37831036-Vedanta-The-Owner-s-Views - 'Now we are bleeding'...

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'Now we are bleeding' ( The view from Mr. Anil Agarwal) Prabhu Chawla and Malini Bhupta Mon, Sep 20 02:22 PM The view from Anil Agarwal's corner room in his suburban Mumbai office best tells his story. The steady stream of powerful jets taking off from the Chhatrapati Shivaji International Airportsymbolises his desire to take wing and soar. Despite building a natural resource powerhouse with a market capitalisation of $9 billion from practically nothing, the chairman of Vedanta Resources is still not taking it easy. His uncluttered office reflects his state of mind. Having put his company on the world map of base metals and iron ore, he's now eyeing the oil and gas sector. Days after his company announced the acquisition of Cairn India and his aluminium refinery project in Orissa got a thumbs-down from the environment ministry, he looks unperturbed. Those who have been tracking him know that he's seen worse. The glass and chrome in his office reflects his steely resolve to forge ahead no matter what the obstacles. In a heart-to-heart chat with Editor Prabhu Chawla and Deputy Editor Malini Bhupta over coffee and sandwiches, he talked about his journey from Patna to London via Mumbai, the issue of development and the reasons behind the travails his companies seem to run into. Excerpts: Apart from acquisitions, have you built anything on your own? Lots. The copper smelter was our first. Our capacity is four lakh tonnes. We doubled the capacity of MALCO from 25,000 to 50,000 tonnes. BALCO's capacity was 1,00,000 tonnes which we increased to 3,50,000. Hindustan Zinc was at 1,60,000 tonnes when we acquired it; today its production capacity is 11 lakh tonnes.
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This note was uploaded on 12/07/2011 for the course MBA 0001 taught by Professor Akshat during the Spring '09 term at Institute of Management Technology.

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37831036-Vedanta-The-Owner-s-Views - 'Now we are bleeding'...

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