Vedanta Group To Invest Rs 4,300 Cr In Its Arm

New Delhi: Metals and mining giant Vedanta Ltd is planning to invest close to $500 million in its display glass unit AvanStrate Inc (ASI), the company said on Monday. Vendanta Group has expressed interest in setting up a display semiconductor manufacturing unit in India.

“Vedanta Limited is planning to invest close to $500 million (Rs4,300 cr) in its group company, AvanStrate Inc, a leading global display glass manufacturer that is now fully managed by Vedanta Limited,” it said in a statement.

The company plans to make this strategic investment to drive innovation and expansion within ASI, strengthening its focus on research and development, as well as manufacturing capabilities and product offerings to cater to the growing global demand for advanced display glass solutions, the statement said.

“This strategic investment from Vedanta Group is reflective of our clear and definitive shift in focus toward significant growth-oriented projects,” AvanStrate Global MD, Akarsh Hebbar said.