May 25, 2024 08:04 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Bangladeshi MP Anwarul Azim was honey-trapped; killers were paid Rs. 5 cr for his gory murder: Cops | NIA arrests another key conspirator in Bengaluru Rameshwaram Cafe blast case | Delhi court convicts Medha Patkar in criminal defamation case filed by Delhi LG VK Saxena | 2 cops suspended for 'not following protocol' in Pune Porsche accident case | Sadhus hit Kolkata streets in protest against Mamata Banerjee's attack on Kartik Maharaj
Adani Group to invest $1.22 billion to build largest copper manufacturing plant in Gujarat's Mundra
Photo courtesy: UNI

Adani Group to invest $1.22 billion to build largest copper manufacturing plant in Gujarat's Mundra

| @indiablooms | 04 Feb 2024, 06:04 pm

Vadodara: Billionaire Gautam Adani-led ports-to-power conglomerate Adani Group is constructing the world's largest copper manufacturing plant in Mundra, Gujarat at an investment of $1.2 billion, media reports said.

The facility aims to reduce India's reliance on copper imports and support the country's energy transition.

The first phase of the plant is set to commence operations by the end of March, and it is projected to reach its full-scale capacity of 1 million tonnes by 2029, reported NDTV.

India is joining other nations, including China, in expanding copper production, a crucial metal for the shift away from fossil fuels.

Copper plays a vital role in technologies crucial to the energy transition, such as electric vehicles (EVs), charging infrastructure, solar photovoltaics (PV), wind power, and batteries.

Adani's copper plant is being developed concurrently with Vedanta Ltd's efforts to reopen a long-shut 400,000-tonne plant in Tuticorin, Tamil Nadu, according to the report.

At the moment, Hindalco Industries Ltd operates the country's largest copper smelter, with a capacity of 0.5 million tonnes.

Copper, ranked as the third most used industrial metal after steel and aluminium, is experiencing increasing demand due to the rapid growth of renewable energy, telecommunications, and electric vehicle industries.

Despite this demand surge, India's domestic copper production has fallen short, resulting in a higher reliance on imported copper.

The country's copper imports have consistently risen over the past five years.

On a global scale, copper production is more concentrated than oil, with the top two producers, Chile and Peru, accounting for 38% of world production.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.