Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

Vedanta Resources (VED)

  Print      Mail a friend       Annual reports

Thursday 16 November, 2006

Vedanta Resources

Commercial Energy Business

Vedanta Resources PLC
16 November 2006

                                                                16 November 2006

            Vedanta Resources plc Enters Commercial Energy Business

The Board of Vedanta Resources plc ('Vedanta') has approved a project to enter
into the commercial energy business in India. The first phase of this project
involves the setting up a 2400 MW green field power plant in Jharsuguda, Orissa
at a total cost of $1.9 billion. The power business will be operated through
Sterlite Energy Limited (SEL'), a wholly owned subsidiary of Sterlite Industries
India Limited.

Demand for power in India to support its growing economy has in recent years
exceeded supply. Per capita consumption of power in India, despite having
increased significantly in recent years, continues to lag behind power
consumption in other leading developed and emerging economies by a large margin.
To sustain the strong recent economic growth in India, the Ministry of Power in
India has set an ambitious target of providing 'Power for All' with a target of
achieving an installed capacity of 212,000 MW by 2012 by adding approximately
100,000 MW of generation capacity. India has large thermal coal resources, and
the coal industry is in a process of government deregulation that is expected to
increase the availability of coal. We believe these factors make the power
generation business an attractive growth opportunity in India and that, by
leveraging our project execution and operating skills in building and operating
captive power plants, Sterlite may compete successfully in this business.

The Group proposes to set up a 4x600 MW coal based thermal power plant at
Jharsuguda, Orissa. SEL has commenced construction of the first phase of the
project. It will comprise 4 units of 600 MW each. The second phase of the
project, which has not yet been approved by the Board of Vedanta, is for 1200 MW
comprising 2 units of 600 MW each. The power generated will be sold to the State
Electricity Boards and power trading companies. It would require approximately
13 million tpa of coal to run the 2400 MW power plant, which would be obtained
from coal blocks to be alloted.

The total investment is based on the green-field nature of the project and is
estimated at US$1.9 billion, to be phased over 4 years. This investment includes
boiler and generating unit common facilities like coal handling systems, water
treatment plant, cooling water systems, instrumentation, control tower and all
necessary infrastructure including railway networks, water pipelines and a
township for employees. The investment will be funded through a combination of
internal resources and external financing.

For further information, please contact:

Sumanth Cidambi                                   [email protected]
Associate Director - Investor Relations           Tel: +44 20 7659 4732 / +91 22 5646 1531
Vedanta Resources plc

James Murgatroyd                        
Robin Walker
Finsbury                                          Tel: +44 20 7251 3801

About Vedanta Resources plc
Vedanta Resources plc is a London listed diversified metals and mining group.
Its principal operations are located throughout India, with further operations
in Zambia, Australia and Armenia. The major metals produced are Aluminium,
copper, zinc, lead and gold. For further information, please visit

About Sterlite Industries India Limited
Sterlite Industries (India) Limited, a majority subsidiary of Vedanta Resources
plc, is one of India's leading diversified Metals and Mining companies with
interests and operations in aluminium, copper and zinc and lead. The company's
main operating subsidiaries are Hindustan Zinc Limited for its zinc and lead
operations; Copper Mines of Tasmania Pty Limited for its copper operations in
Australia; and Bharat Aluminium Company Limited for its aluminium operations.
The company operates its copper operations in India itself.

This press release contains 'forward-looking statements' - that is, statements
related to future, not past, events. In this context, forward-looking statements
often address our expected future business and financial performance, and often
contain words such as 'expects,' 'anticipates,' 'intends,' 'plans,' 'believes,'
'seeks,' or 'will.' Forward-looking statements by their nature address matters
that are, to different degrees, uncertain. For us, uncertainties arise from the
behaviour of financial and metals markets including the London Metal Exchange,
fluctuations in interest and or exchange rates and metal prices; from future
integration of acquired businesses; and from numerous other matters of national,
regional and global scale, including those of a political, economic, business,
competitive or regulatory nature. These uncertainties may cause our actual
future results to be materially different that those expressed in our
forward-looking statements. We do not undertake to update our forward-looking

                      This information is provided by RNS
            The company news service from the London Stock Exchange

a d v e r t i s e m e n t