Achi news desk-
New Delhi57 minutes ago
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Adani Group company ‘Kutch Copper’ has started production at the Greenfield Copper Refinery Project in Mundra. The company has also sent the first batch of cathode from this refinery to the customers. With this the group has also taken its first step in the metal industry.
Adani Group has invested 1.2 billion dollars (about Rs 10,008 crore) in this plant. This copper smelter is to be completed in two phases, and in the first phase there will be an annual production of 5 lakh tonnes of copper.
The world’s largest metal smelter located in one location
Meanwhile, in the second phase, another plant with the same capacity (5 lakh tonnes per annum) will be constructed. That means, with a total annual production of 1 million tonnes, it will be the largest metal smelter in the world located in one location.
The company has given this information in its exchange filing today ie Thursday, March 28. Kutch Copper said that this will open options for 2,000 direct jobs and 5,000 indirect jobs.
India imports 90% of its copper needs.
India has joined the ranks of China and other countries by rapidly increasing its copper production capacity. India imports 90% of its copper needs from South America and many other countries.
Use of 40% copper in the infrastructure and construction industry
In 2023, India had bought about 13 lakh tonnes of copper from outside, this year it is expected to increase to 20 lakh tonnes. According to the rating agency ICRA, the infrastructure and construction industry uses about 40% of copper. At the same time, 11% to 13% of copper is used in automobiles and consumer durables.
‘Kutch Copper’ works on making copper tubes
The company is also working on setting up Kutch Copper Tube Limited. The company will manufacture copper tubes for electrical equipment from here.
Copper tubes are used in refrigerators, vehicles and construction companies.
It will fulfill India’s dream of a self-reliant future – Gautam Adani
On the commencement of Kutch Copper operations, Group Chairman Gautam said, ‘Kutch Copper has started operations, Adani’s portfolio companies are not only entering the metal sector, but are also fulfilling India’s dream of a strong and self-reliant future.
Our operation and ability to work on major projects aims to take India to the global level in the copper sector. The copper industry is going to play an important role in achieving the dream of carbon neutral and green infrastructure by 2070.
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