The second move came in June 2009. Vedanta acquired another iron ore business in Goa, this time from V.S. Dempo. A name probably better known for football than iron ore, Dempo nevertheless was welcomed gleefully by Vedanta investors. The stock shot up in value. It was a striking contrast to their mood just two years earlier. It was a clear sign the investors were at last beginning to make sense of Agarwal’s game plan. What had
seemed a random acquisition at first glance was actually the first step in a calculated strategy being put in place by Agarwal. Tie in the two acquisitions and the picture becomes clear. Today, the mine-scape of Goa is being changed forever by Agarwal who is slowly but steadily taking over a dominant position there. His interest in iron-ore mining, which started at zero in 2007, is set to reach 50 million tonnes per year by 2012. And this is just one detail in a grand global plan that the shrewd businessman is unraveling. Ask Anil Agarwal about it and he first underplays it: “I don’t look at the nitty gritty of business these days. I focus on the big picture.” Nevertheless, for someone who claims to stay away from the details, Agarwal rattles them off pretty nicely. He wants to become the fifth largest metals and mining company in the world by 2012. He wants India to account for a tenth of all global production of copper, aluminium and zinc and his operations in the country to account for all that share. In iron ore, his latest passion, he wants to control 10 percent of the world’s reserves. His investment bill? Rs. 95,000 crore in the lightening span of three years. That’s Rs. 87 crore each day.
For further details visit as : http://business.in.com/article/boardroom/anil-agarwals-big-bang-theory/3312/1
seemed a random acquisition at first glance was actually the first step in a calculated strategy being put in place by Agarwal. Tie in the two acquisitions and the picture becomes clear. Today, the mine-scape of Goa is being changed forever by Agarwal who is slowly but steadily taking over a dominant position there. His interest in iron-ore mining, which started at zero in 2007, is set to reach 50 million tonnes per year by 2012. And this is just one detail in a grand global plan that the shrewd businessman is unraveling. Ask Anil Agarwal about it and he first underplays it: “I don’t look at the nitty gritty of business these days. I focus on the big picture.” Nevertheless, for someone who claims to stay away from the details, Agarwal rattles them off pretty nicely. He wants to become the fifth largest metals and mining company in the world by 2012. He wants India to account for a tenth of all global production of copper, aluminium and zinc and his operations in the country to account for all that share. In iron ore, his latest passion, he wants to control 10 percent of the world’s reserves. His investment bill? Rs. 95,000 crore in the lightening span of three years. That’s Rs. 87 crore each day.For further details visit as : http://business.in.com/article/boardroom/anil-agarwals-big-bang-theory/3312/1
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