The Adani Group is planning a $5-billion foray into India's metals business, two years after marking its mega entry into the country's cement sector.
The conglomerate will challenge incumbents such as Anil Agarwal-promoted Vedanta Ltd, Aditya Birla Group's Hindalco Industries Ltd and Tata Group, riding the synergies shared with its other businesses.
Adani's natural resources division has decided to spend the amount over the next three to five years on mining, refining and production of copper, iron and steel, and aluminium, two people aware of the plans said on the condition of anonymity.
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