Vedanta Limited, one of the leading mining and oil and gas companies in India, is keen to explore business expansion opportunities including settng up a regional headquarter in the Middle East, including setting up a regional headquarter in the UAE or Saudi Arabia.

Vedanta is one of the key partners of the Indian pavilion at Expo 2020, and is keen to showcase “India’s capabilities” over the next six months.

In an exclusive interview with MEED, CEO and Whole Time Director Sunil Duggal highlights how the UAE and the wider region is a promising hub for minerals and trade.

“We’re keen to talk to companies such as Ma’aden and Emirates Global Aluminium (EGA), to discuss collaborative opportunities,” says Duggal. “We’re looking at having a regional centre, given that this [region] lies between the East and the West. Through our presence here, we can partner up with local firms, leverage digital expertise and explore opportunities with sovereign wealth funds.”

Duggal said Vedanta was evaluating both the UAE and Saudi Arabia as possible locations for its regional headquarter.

Saudi Arabia is a metals and minerals hub in the region, currently accounting for a sizeable 37.9 per cent of the Middle East and Africa’s SAR60bn ($16bn) metals and mining industry market.

Estimates from Invest Saudi indicate SAR4.88tn ($1.3tn) worth of untapped mining potential in the kingdom, with 20 million ounces of below ground gold reserves

The kingdom is also keen to involve the private sector, promising cost advantages and flourishing domestic demand.

Duggal emphasises that these factors make Saudi Arabia a lucrative market.

“We are looking at creating forums to pursue these opportunities, especially through Expo 2020,” he says.

Vedanta is also looking to partner with firms providing technology and seismic data interpretation capabilities, beyond the traditional players such as Halliburton and Baker Hughes. Duggal says that the company will organise roadshows over the coming months and map potential collaborators, while continuing to showcase its participation in the Indian pavilion.

“India needs energy security, and [partnerships] in this space help us make that a reality,” says Duggal. “Oil and gas, minerals, digital technology, ESG – these are all very important to us.”

Vedanta’s parent company, Vedanta Resources, has a precious metal refinery and cast copper rod production plant in Fujairah. Meanwhile, the UAE’s EGA has been supplying Vedanta with Guinean bauxite from its its wholly-owned subsidiary Guinea Alumina Corporation (GAC).