Vedanta interested in BPCL, keeping an eye on valuation: Anil Agarwal

NEW DELHI: The Vedanta group will seriously evaluate acquiring the government’s stake in BPCLNSE -1.52 % and will bid for commercial coal blocks that will be offered as it will itself need up to 100 million tonnes to generate power but its decisions would depend on the valuation of assets, its chairman Anil Agarwal said.

Agarwal also said he expects private investment in India to pick up in a year, and that the business community had a lot to gain from the deepening relationship with the US, as evident from the warmth between US President Donald Trump and Prime Minister Narendra Modi. He said the VedantaNSE -1.54 % Group had placed orders worth $4 billion with US companies for work related to its oilfields. “American companies want to invest in India. We have the same value system. Our credibility is very, very high,” he said.