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Anil Agarwal: Vedanta Resources
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Businessman Anil Agarwal’s is a rags to riches story come to life. He started out in his late teens as a scrap metal trader from Bihar. Today, he’s a billionaire who has almost achieved his ambition of being a key player in the global metals market. His firm, the $1.8 billion Vedanta Resources, is listed on the London Stock Exchange and Agarwal operates from a swanky office in London’s exclusive Mayfair district.
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Anil Agarwal, $2.8b (£1.6b): According to Forbes, Agarwal, 52, converted a scrap-metal business into a global business empire. He reportedly started off reselling scrap metal. Today, his company, Vedanta Resources ($1.3 billion in sales), is a metals and mining major which recently picked up the state-owned Bharat Aluminum and Hindustan Zinc.
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Lately, Agarwal has realised that Vedanta has opened up too many fronts in the metals business. That the cyclical nature of business and global consolidation could be suicidal. So, his recent moves have been aimed at derisking. For instance, Sesa Goa, which can produce 207 million tonnes of iron ore to make 6 mt of iron and steel for 50 years, will make steel for the domestic market. Since he is not an expert in steel, he is trying to rope in a partner that would ... be a customer for Sesa Goa’s iron ore.
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Anil is Executive Chairman of Vedanta Resources, a listed company on the London Stock Exchange. He is ... Chairman and Director of several other global mining and resource companies. Anil has over 30 years of experience as an entrepreneur and industrialist.
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A year ago, on a close friend’s advice, Agarwal set up the 10,000-acre Vedanta University in Orissa, dedicated to his father Dwaraka Prasad Agarwal. The billion-dollar institute will have the Bay of Bengal on one side and the Mahanandi River on the other — an ideal environment for research scholars to work on his pet subjects like development of alternative fuels.
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Agarwal met Prime Minister Manmohan Singh to present the vision of the university and obtain his inputs as an eminent educationist. The prime minister endorsed the need for such a university and was fully supportive of the endeavour, the Vedanta statement said.
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