Tag : Cortez

Spent Rs 10kcr on capex in FY19 Vedanta

first_imgNew Delhi: Stating that its growth plans will see it becoming the world’s largest zinc producer and among the top three silver producers, mining giant Vedanta Ltd Thursday said it spent around Rs 10,000 crore in FY’19 on capital expenditure programmes. “As India’s largest private sector oil and gas producer, your company aims to double its current contribution of 27 per cent of nation’s production,” the company’s Chairman Navin Agarwal said at its Annual General Meeting (AGM). Also Read – Maruti cuts production for 8th straight month in Sep India currently imports around 80 per cent of its oil and gas requirements, amounting to USD 150 billion, he said. “We are the largest primary producer of aluminium in the country. Our plans will see us produce three million tonnes of integrated aluminium, an increase of 50 per cent,” he added. Looking at the medium term, Agarwal said Vedanta’s plans include a total capital investment of Rs 55,000 crore to increase production by about 50 per cent across its businesses which the company expects to fund from internal cash flows. The mega targets set in the Union Budget 2019-20 for investment in infrastructure sector at Rs 100 lakh crore over the next five years will lead to urbanisation and industrialisation in the country, generating significant demand for natural resources, he said. India currently has a resources’ import bill of USD 465 billion, Agarwal added.last_img read more

UN refugee agency hails new protection law in Central African Republic

The United Nations refugee agency today hailed a new law approved in the Central African Republic (CAR) guaranteeing refugees protection and other fundamental rights.“Since independence, the Government and people of CAR have shown generous hospitality towards refugees, welcoming men, women and children, seeking protection as a result of conflict or persecution. The adoption of a national refugee law formalizes this liberal asylum policy,” said Bruno Geddo, UNHCR representative in Bangui.The issue is key in the country, which has thousands of refugees and displaced persons within its borders; with the arrival earlier this year of 2,700 refugees from the Darfur region in Sudan, there are now some 9,000 refugees living in CAR, including some 2,000 Congolese. Some 80,000 Central Africans have fled conflict-affected areas in the country’s north to neighbouring countries. An estimated 220,000 civilians are displaced within CAR.Adopted Thursday by the National Assembly, the Law on the Status of Refugees must now be signed by President François Bozizé to come into force. It guarantees people fleeing conflict and persecution the right to enter CAR territory, to apply for asylum and to be recognized as refugees if they fulfil the definitions contained in international treaties. It also establishes an appeals commission to re-examine the cases of people who have been denied refugee status in the first instance.In addition, the law guarantees people seeking refuge in CAR the fundamental rights elaborated in international refugee law. This means that refugees will have most of the same rights enjoyed by CAR citizens, including the rights to employment, to freedom of association, to social assistance, to health services, to education and to freedom of movement and residency, UNHCR said in a news release.Under the new legislation, refugees cannot be expelled from the CAR or sent forcibly to a country where their life or liberty could be at threat, the agency said. 5 December 2007The United Nations refugee agency today hailed a new law approved in the Central African Republic (CAR) guaranteeing refugees protection and other fundamental rights. read more