Vedanta signs MoU to invest Rs. 8400 crore to expand its base in Rajasthan.

The Vedanta group signed an early agreement to invest around Rs. 8,400 crore to expand and develop its mineral and mining base in Rajasthan. This is part of more than Rs. 20,000 crore of investment lined up by Vedanta to expand its mining and oil business in the western Indian state over 3-5 years. The latest memorandum of understanding follows an MoU signed recently by group company Cairn India to develop new oilfields. While Vedanta unit Hindustan Zinc (HZL) plans to invest Rs. 8,400 crore to develop and expand zinc-lead ore mines and smelters, as well as in a new fertilizer plant, Cairn has promised to pump in Rs. 12,500 crore "We have signed a MoU today with the Rajasthan government worth Rs 8,357 crore to be invested in coming three years," HZL Chief Executive Sunil Duggal said recently.