Vedanta Group has announced the establishment of a new copper unit in Saudi Arabia through its subsidiary, Malco Energy Limited, with an investment of SAR 1,00,000. The newly formed entity is named Vedanta Copper International VCI Company Limited, as detailed in the company’s recent exchange filing.
This development follows Vedanta’s board approval in September to divide the business into six distinct listed entities. Anil Agrawal, Chairman of Vedanta, had indicated on August 25 that the group was contemplating separate listings for all or some of its businesses based on feedback from advisors. Agrawal emphasized that such individual listings would support the growth of “pure play” businesses within the group.
Last year, Vedanta had revealed plans to invest in the mineral sector in Saudi Arabia, further signaling the group’s strategic expansion and commitment to diversification.
The establishment of Vedanta Copper International VCI Company Limited represents a significant step in the execution of Vedanta’s business restructuring plan and reinforces the group’s presence in the global copper market.
