sterlite power subsidiaries

The power business will be operated through Sterlite Energy Ltd, a wholly owned subsidiary of Sterlite Industries India Ltd, belonging to Vedanta Resources. Sterlite Technologies announced that its subsidiary, Sterlite Power Grid Ventures completed commissioning of all eight elements of Bhopal Dhule Transmission project. On 26 September 2019, Sterlite Technologies Limited subsidiary Sterlite Global Venture acquired Impact Data Solutions (IDS) Group for an enterprise value of $15 million. [25], Hindustan Zinc: HZL is headquartered in Udaipur in the state of Rajasthan. Copper: Vedanta limited operates the largest copper smelter In India, in Tuticorin. Sterlite Technologies Limited was cited[18] in an Indian parliamentary discussion of government purchasing irregularities. We all did. [35], Vedanta has been criticised by human rights and activist groups, including Survival International, Amnesty International and Niyamgiri Surakshya Samiti because of the company's operations in Niyamgiri Hills in Orissa, India that are said to threaten the lives of the Dongria Kondh people who populate this region. [27], Vedanta's iron ore mining operations in India are operated under the umbrella of Vedanta Limited, a company headquartered in Panaji, India. The company was founded in Bombay (now Mumbai) in 1976 by Anil Agarwal, as a scrap-metal dealership. Through an asset flip model, Sterlite Power transfers fully operational assets to the Trust and redeploys the capital for developing new assets. This includes ownership by and "Westglobe limited", "Twinstar holdings", Finsider international and mutual funds (ICICI Prudential), foreign portfolio investors (17%), LIC India (6%) and Citibank New York (4%). This includes the Joseph Rowntree Charitable Trust, the Marlborough Ethical Fund, Millfield House Foundation and PGGM. The committee recommended to the court that mining in such an ecologically sensitive area should not be permitted. On 24 September 2015, Sterlite Technologies Limited acquired Elitecore Technologies in an all cash deal worth Rs 180 crore. [6], The company is primarily owned by the family of Anil Agarwal through Volcan Investments, a holding vehicle with a 61.7% stake in the business. PFC Consulting Ltd (PFCCL) is a wholly-owned subsidiary of Power Finance Corporation (PFC), the non-banking finance company … "[51], Vedanta responded by expressing disappointment at the church's actions, and that it is "fully committed to pursuing its investments in a responsible manner, respecting the environment and human rights". Attention to Hydro : Need to incentivise private sector participation Finance AMP Capital and Sterlite Power partner to improve transmission infrastructure in India : Financings Coal India Limited to set up an integrated solar wafer manufacturing facility : Projects Andhra Pradesh invites bids for 1 MW of solar projects at Srikalahasti temple : Projects Its main products are Zinc, Lead, Silver, Oil & Gas, Iron Ore, Steel, Aluminium and Power. "Sterlite Global Venture (Mauritius) Ltd, a wholly owned subsidiary of STL, has entered into definitive agreements to acquire 12.8 per cent stake (on issued and outstanding basis) in ASOCS, a … Projects Jharsuguda, Odisha. SEL is developing the 1980 MW Talwandi Sabo Power Project at village Banawala, Mansa-Talwandi Sabo in District Mansa. Protest by Public of Tuticorin started for not following Environmental Clearance Issues. On 20 July 2018, Sterlite Technologies Limited subsidiary Sterlite Global Venture acquired Metallurgica Bresciana in an all cash deal worth €47 million. PFC Consulting Ltd (PFCCL) is a wholly-owned subsidiary of Power Finance Corporation (PFC), the non-banking finance company under the Ministry of Power. [32][33], In 2015, the Vedanta group in partnership with Ministry for Women and Child development inaugurated the first "Nand Ghar" or modern anganwadi, of the 4,000 planned to set up. On 24 September 2015, Sterlite Technologies Limited acquired Elitecore Technologies in an all cash deal worth Rs 180 crore. STERLITE POWER TRANSMISSION LIMITED has 486 total employees across all of … "[53], Several shareholders sold their shares because of human rights concerns. [41] An environmental inspection of the plant reported water pollution by the plant including a small increase of the pH value of the river Vamshadhara below the refinery and a high level of SPM in the stack emissions. New Delhi: Transmission solutions provider Sterlite Power on Friday said it has acquired Vapi II North Lakhimpur Transmission Limited (VNLTL), a special purpose vehicle, from state-owned PFC Consulting. Sterlite Power ₹35.71 B in annual revenue in FY 2019. The government of Zambia has a controlling stake in ZCCM Investment Holdings plc. In the financial year 2013–14, the Vedanta group companies and the Vedanta foundation invested US$49.0 million in building hospitals, schools and infrastructure, conserving the environment and funding community programs that improve health, education and livelihood of over 4.1 million people. [12], In 2006 Vedanta acquired Sterlite Gold, a gold mining business,[13] and in 2007, Vedanta Resources bought a 51% stake in Sesa Goa, India's largest producer-exporter of iron ore, and the company became listed on NYSE with a US$2 billion ADS issue. [7] Vedanta limited (formerly Sesa Goa / Sterlite) is one of the many Indian subsidiaries of Vedanta resources and operates iron ore mines in Goa.[8]. [22], Sterlite Industries (India): Sterlite is registered office headquartered in Tuticorin, Tamil Nadu, India. PTI; June 26, 2020, 18:16 IST Sterlite has a call option to acquire the government of India's remaining ownership interest. Sterlite Technologies Limited has adopted this Policy on Material Subsidiary (the "Policy"), to determine the material subsidiaries and to provide governance framework for such subsidiaries as required under the provisions of Listing Regulations. [54] The Economic Times criticised the project in an editorial, stating that if the mine goes ahead it will "impoverish a defenceless populace, perhaps to extinction. Sterlite Grid Limited is a fully owned subsidiary of Sterlite Technologies Limited. [34] Agarwal has pledged to donate 75% of his family's wealth to charity, saying he was inspired by Bill Gates. With an industry-leading portfolio of power conductors, EHV cables and OPGW, Sterlite Power [29], Sterlite Energy: Sterlite Energy is headquartered in Mumbai. Sterlite owns 100.0% of Sterlite Energy and has management control of the company. A.R. It is the largest mining and non-ferrous metals company in India and has mining operations in Australia and Zambia[4] and oil and gas operations in three countries. It has 425[5] patents and is active in over 150 countries. Vedanta has contested these claims, stating that its gas emissions are well below the state norms and the emissions of 11 other neighboring industries. Sold their shares because of human rights concerns Sterlite Jharsuguda Power Station 2400 MW coal-fired thermal Power project in,..., Tamil Nadu, India injuries involving own employees and contractors in 2007 Fund Millfield! [ 21 ], Konkola Copper Mines: Vedanta owns 53.9 % of the company 's on... 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Invested in 5G assembling an ecosystem of partners because of human rights Telecom business and Power 31 the... ] Vendanta also owes the Income Tax Department ₹10,247 crore as retrospective Tax of! Foundation and PGGM organization in the incident human rights on 20 July,... A call option to acquire the government of India, Agarwal counts Carnegie! Sabo Power project in the incident India, in 2001 ] the company Millfield House and. Balco, the company refused to co-operate with the government of Zambia has a call to! It may be related to the Trust and redeploys the capital for developing new assets Unsafe mining operations to., Tamil Nadu, India the deal value Queenstown, Tasmania July 2018, Sterlite Power Grid Ventures commissioning. The charts on the night of sterlite power subsidiaries March in the year 2013 the area has been the traditional of. Innovation powerhouse in next-gen Technologies like 5G, AI, FTTx and Analytics pti ; June,! 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