Vedanta Resources is planning to form a USD 10 billion fund, to bid for assets including the Indian government's stake in Bharat Petroleum Corporation (BPCL). The planned investment fund will be made up of its own resources and outside investment.
The Government of India under its disinvestment plan intends to offer around 53 percent of its stake in the state-owned refinery company, BPCL to private entities.
Vedanta has mining interests in South Africa, and metal refinery and copper rod plants in the United Arab Emirates' Fujairah Free Zone. Further, the
company is reportedly exploring opportunities for new zinc, gold and magnesium mines in Saudi Arabia.