India Vedanta Resource Company Plan to Purchase Shares of BALCO

India Vedanta Resource Company plan to invest 130 billion rupee to extent its aluminum capacity in India, and intend to purchase shares owned by India government of BALCO. CEO Pramod Suri of Vedanta Resource Company said though BALCO has deficit now, they found this situation could be turned around after their investigation. They had sent purchase offer to India government to buy the 49% share of BALCO and submitted this matter to tripartite Commission. They suggest completing this purchase quickly.