Search
+

    Coronavirus: Vedanta Ltd announces Rs 100 cr fund to fight pandemic

    Synopsis

    Metals and mining giant Vedanta Ltd on Sunday announced setting up of a Rs 100-crore fund to combat the coronavirus outbreak.

    iStock
    Coronavirus

    COVID-19 CASES

    Confirmed
    906,752
    Deaths
    23,727
    Vedanta Ltd, a global conglomerate in metals and mining, announced the setting up of a dedicated Rs 100 crore fund as part of its endeavour to join ranks with the Government of India to combat the widespread outbreak of deadly COVID-19. The fund will cater to three specific areas – Livelihood of the daily wage worker, employees & contract workers, preventive health care and will provide timely help to communities in and around various plant locations of the company.

    "The world is currently putting up a spirited fighting against COVID19. The Government of India along with state governments have so far done exemplary work to contain the spread of the virus. It is critical that corporate houses should assist the government in the fight against this deadly virus by contributing to the best of their ability so that the nation has adequate resources to take care of its citizens and provide both medical and financial assistance," Anil Agarwal, Executive Chairman, Vedanta Resources Ltd said.

    "This fund is a first step on Vedanta’s behalf and we will increase the corpus if the need arises. Further, we will also assist the communities at our various locations in case of loss of livelihood" Agarwal said.

    As part of other measures, Vedanta will not cut salaries or fire any staff, including temporary workers during this crisis period. It has also decided to provide special, one time insurance to cover Vedanta’s employees and their families against COVID-19. Further, all mobile health vans in operational areas will aide in preventive healthcare and each business unit will contribute towards the livelihood of daily wage earners around plant locations like tea sellers and vegetable vendors.
    (Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)

    Also Read

    2 Comments on this Story

    Slug Slurry113 days ago
    put 100 cr in same company and get 100 cr done tax free under corona.
    Anil Kumar113 days ago
    good step by the company
    The Economic Times