32.1 C
New Delhi
Wednesday, October 4, 2023
Home Industry Industrial Goods and Services Vedanta plans a new Rs 10,000-crore copper plant in Tuticorin, which is...

Vedanta plans a new Rs 10,000-crore copper plant in Tuticorin, which is currently closed

The Madras High Court upheld the Tamil Nadu government’s decision in May 2018 to close the Tuticorin plant due to allegations of polluting the atmosphere in the district.

Vedanta is preparing to construct a new 500,000-tonne-per-year copper smelter plant in Tuticorin, Tamil Nadu, after its 400,000-tonne-per-annum copper smelter plant in Tuticorin, Tamil Nadu, was closed in May 2018 due to pollution issues and the Supreme Court dismissed its petition to reopen it. Coastal states interested in partnering with the organisation on this initiative have been invited to submit expressions of interest.

The proposed plant, according to Vedanta, would require about 1,000 acres of land near the port, as well as logistics connectivity with a conveyor/rail and road corridor to handle 5 MTPA material movement on both the in-bound and out-bound sides. The project is expected to cost about Rs 10,000 crore and employ 10,000 people directly and indirectly, according to the company.

The closure of the Tuticorin plant has reduced the country’s copper production by nearly half, turning it into a net importer. According to mines ministry statistics, refined copper imports more than tripled in the first two years after the plant closed, to 151,964 tonne in FY20, while exports dropped 90% to 36,959 tonne.

The Madras High Court upheld the Tamil Nadu government’s decision in May 2018 to close the Tuticorin plant due to allegations of polluting the atmosphere in the district. Though the National Green Tribunal had in December 15, 2018, allowed Vedanta to reopen the plant, the Supreme Court had set aside its order stating that the green tribunal did not have jurisdiction to entertain an appeal against the TN government’s decision.

RELATED ARTICLES

States will request a three-year extension of GST compensation at the upcoming council meeting: Sources

After Union Finance Minister Nirmala Sitharaman returns from her 10-day trip to the US after attending the World Bank-IMF meeting earlier this month, the...

The Dogecoin craze has made its way to Indian cryptocurrency exchanges

The Dogecoin craze has spread to cryptocurrency exchanges in India. The cryptocurrency, named after a meme of the Japanese dog breed Shiba Inu and backed...

Retail Inflation Likely Rose in March But Stayed Within Target

According to a Reuters survey, India's retail inflation rose to a four-month high in March, owing to increases in food and fuel rates, but...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

States will request a three-year extension of GST compensation at the upcoming council meeting: Sources

After Union Finance Minister Nirmala Sitharaman returns from her 10-day trip to the US after attending the World Bank-IMF meeting earlier this month, the...

The Dogecoin craze has made its way to Indian cryptocurrency exchanges

The Dogecoin craze has spread to cryptocurrency exchanges in India. The cryptocurrency, named after a meme of the Japanese dog breed Shiba Inu and backed...

Retail Inflation Likely Rose in March But Stayed Within Target

According to a Reuters survey, India's retail inflation rose to a four-month high in March, owing to increases in food and fuel rates, but...

In FY21, the income tax and corporate tax collections exceeded the revised estimates, totaling Rs 9.45 lakh crore

Mumbai: The fiscal year ended March 31 saw income tax and corporate tax collections of Rs 9.45 lakh crore, which were 5% higher than...

Recent Comments