In conversation with Economic Times, Anil Agarwal, chairman of Vedanta Resources, told about his investment plan in collaboration with London-based Investment firm Centricus. He set up a fund worth $10 bn for buying the government companies which come for sale in the market. He will invest only 5% in the fund and 95% share will come from the investors.
He told that fund would be for Indian companies only and have interest in BPCL, Shipping Corporation and Concor. After making a report, checking returns and required expertise, and will make the best management team for its working will plan for investing in it.
On asking about the similar steps for setting up the fund by other companies, he replied that it would revolution in India.
He wanted the same revolution in discoms which the country saw in the telecom sectors after its disinvestment. Around 62 discoms are shut down and, if they start operating them, will make the cost Rs. 1.5. He also gave concern to the defence factories which are not working on their full capacities.