Business
Adani begins production at $1.2 billion copper manufacturing plant – Times of India
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AHMEDABAD: Billionaire Gautam Adani-led conglomerate, Adani Group, on Thursday announced that it has begun production at its copper manufacturing plant in Mundra. According to the company’s regulatory filing, the company has started its copper manufacturing plant, which is the world’s largest single-location copper manufacturing plant. The plant is operated by Kutch Copper, which is a wholly-owned subsidiary of the ports-to-power conglomerate’s flagship company, Adani Enterprises Limited.
AEL has invested about $1.2 billion to set up a copper smelter with 0.5 million tonne per annum (MTPA) capacity in the first phase.
The plant is expected to create 2,000 direct and 5,000 indirect employment opportunities, Adani said in its stock exchange filing.
“With Kutch Copper commencing operations, the Adani portfolio of companies is not only entering the metals sector but also driving India’s leap towards a sustainable and Aatmanirbhar (self-reliant) future,” said Adani Group chairman, Gautam Adani.
“We believe the domestic copper industry will play a crucial role in achieving our nation’s goal of carbon neutrality by 2070 by strengthening our green infrastructure hand in hand with mature environmental stewardship. When commissioned, our modern smelter will set new benchmarks in copper production, with an enhanced thrust on innovative green technology,” he added.
The demand for copper will be driven by renewable energy, electric vehicles, charging infrastructure, and the development of power transmission and distribution networks.
Kutch Copper is working towards establishing Kutch Copper Tubes Limited as part of its forward integration strategy to add copper tubes to its portfolio. The tubes will cater to applications in air conditioning and refrigeration.
AEL has invested about $1.2 billion to set up a copper smelter with 0.5 million tonne per annum (MTPA) capacity in the first phase.
The plant is expected to create 2,000 direct and 5,000 indirect employment opportunities, Adani said in its stock exchange filing.
“With Kutch Copper commencing operations, the Adani portfolio of companies is not only entering the metals sector but also driving India’s leap towards a sustainable and Aatmanirbhar (self-reliant) future,” said Adani Group chairman, Gautam Adani.
“We believe the domestic copper industry will play a crucial role in achieving our nation’s goal of carbon neutrality by 2070 by strengthening our green infrastructure hand in hand with mature environmental stewardship. When commissioned, our modern smelter will set new benchmarks in copper production, with an enhanced thrust on innovative green technology,” he added.
The demand for copper will be driven by renewable energy, electric vehicles, charging infrastructure, and the development of power transmission and distribution networks.
Kutch Copper is working towards establishing Kutch Copper Tubes Limited as part of its forward integration strategy to add copper tubes to its portfolio. The tubes will cater to applications in air conditioning and refrigeration.
