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Search resuls for: "Anil Agarwal's"


3 mentions found


☆ Troubles of Indian tycoon Anil Agarwal's Vedanta mount as Foxconn ditches JV
  + stars: | 2023-07-11 | by ( Tanvi Mehta | ) www.reuters.com   time to read: +3 min
He then expanded his empire across India, Zambia, Namibia, Ireland and South Africa and later entered the oil and gas sector. London-headquarted Vedanta Resources controls the India unit, Vedanta Ltd. Agarwal took Vedanta Resources private in 2018. Vedanta's gross debt stood at $6.8 billion as of April end, after the company completed 75% of its debt reduction commitment. FOXCONN JVVedanta-Foxconn had sought incentives from Prime Minister Narendra Modi's government and several Indian states for its Foxconn JV to manufacture semiconductors. Relations between Zambia and Vedanta broke down several years ago and culminated in the state appointing a liquidator for the KCM assets in May 2019.
Persons: Foxconn, Anil Agarwal, VEDANTA, Agarwal, Agarwal's, Akarsh Hebbar, Moody's, Narendra Modi's, Paul Kabuswe, Vedanta, Tanvi Mehta, Aditya Kalra, Sonali Paul Organizations: Vedanta, Resources, India's, Forbes, JV, Reuters, Thomson Locations: DELHI, Mumbai, India, Zambia, Namibia, Ireland, South Africa, London, Tamil Nadu, Odisha
☆ India poised to deny funding for Vedanta-Foxconn chip venture - Bloomberg News
  + stars: | 2023-05-31 | by ( ) www.reuters.com   time to read: +1 min
[1/2] A man walks past the logo of Vedanta outside its headquarters in Mumbai, India January 31, 2018. REUTERS/Danish Siddiqui//File Photo/File PhotoMay 31 (Reuters) - The Indian government is poised to deny crucial funding for Anil Agarwal's chip venture, Bloomberg News reported on Tuesday, a setback to the billionaire's ambition to build India's 'own Silicon Valley.' The venture's application seeking billions in government assistance hasn't met the criteria set by the government, the report said. Foxconn declined to comment on the report, while India's technology ministry and Vedanta did not immediately respond to Reuters requests for comment. "India's own Silicon Valley is a step closer now," Agarwal had said last year after the announcement.
Persons: Danish Siddiqui, Anil Agarwal's, Taiwan's Foxconn, hasn't, Foxconn, Foxconn –, –, Agarwal, Anusha, Shailesh Organizations: Vedanta, REUTERS, Danish, Bloomberg, Hai Precision Industry Co, Thomson Locations: Mumbai, India, Gujarat, Bengaluru
☆ KKR to invest $250 million more in India's Serentica Renewables
  + stars: | 2023-05-01 | by ( ) www.reuters.com   time to read: +1 min
Companies KKR & Co Inc FollowBENGALURU, May 1 (Reuters) - U.S. private equity firm KKR & Co Inc (KKR.N) will invest an additional $250 million in Serentica Renewables, the Indian decarbonisation platform said on Monday. "This latest investment will support the company's effort to achieve 4000MW of installed renewable energy capacity that will aid clean energy delivery to large-scale industrial customers," Serentica Renewables said in a statement. KKR, which jointly holds Serentica with billionaire Anil Agarwal's Twinstar Overseas Ltd, had in November committed to invest $400 million in the company. Founded last year, Serentica focuses on industrial decarbonisation by making renewables the primary source of energy for the commercial and industrial sectors, that use more than 50% of the electricity generated in India. Reporting by Navamya Ganesh Acharya and Rama Venkat in Bengaluru; Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.
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