Vedanta Defers Restructuring Plan but Continues $9.8 Billion Expansion, an Industrial Info News Alert

BANGALORE, INDIA, Oct 06, 2008 (MARKET WIRE via COMTEX) -- Researched by Industrial Info Resources-- Vedanta Resources plc (LSE:VED) (London) announced a group restructuring plan in early September in response to shareholders requesting elimination of conflicts of interest and a simplification of the corporate structure. However, in view of the current changes in the global financial market and feedback from its investors, the company has deferred the restructuring plan to a time when market conditions are more favorable. Vedanta had intended to reorganize the company to strengthen its metal and mining business and planned to have three verticals units: Sesa Goa Limited for iron ore; Sterlite Industries India Limited for copper, zinc, and lead; and Sterlite Aluminum , an aluminum and energy unit.