MUMBAI (Commodity Online): Vedanta Resources has given some good news to India with its decision to invest around Rs 40,135 crore for building its capacity in aluminium, zinc, copper, iron ore and power in India.

Following the end of recession, the company has decided to begin construction of its power project in Punjab, which was on hold after the financial downturn. The first of its major projects completed would be the 500 ktpa aluminium smelter and associated captive power plant at Jharsuguda in Orissa by the end of this financial year.

The investment of Rs 9,900 crore for the project has been almost completed. Except a power plant, all the remaining projects would be completed by 2012.

With the improved market conditions and significant Indian GDP growth, the company has reviewed its capital expenditure plan and decided to reactivate its 1,980 Mw Talwandi Sabo commercial power project, put on hold last year, said the company in its business review report.

The cost of the project, scheduled to commission by 2014, would be Rs 10,000 crore. Vedanta has reported a 46.2 per cent decline in profit at $188.2 million for the six-month period ended September, impacted mainly by weak metal prices. Its total revenue fell 25.6 per cent to $2.9 billion.

Vedanta controls the Konkola Copper Mines in Zambia and Copper Mines of Tasmania, in addition to the controlling stakes in unlisted entities such as Bharat Aluminium Company, Madras Aluminium Company, Vedanta Aluminium and Sterlite Energy.

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