Sterlite Industries, a
Vedanta Group Company is planning to invest Rs 2500 crore to double its copper
smelting capacity to eight lakh tonne per annum. Further after expansion of
copper smelter it will be one of the largest copper smelter in the world in a
single location, said P Ramnath, CEO, Sterlite Copper, a unit of Sterlite
Industries (India) on the sidelines of
the 4th Tamil Nadu Manufacturing Summit, organised by the Confederation of
Indian Industry (CII) in Chennai.
He further said, “The
investment for the capacity expansion would be accrued internally and the contract
has already been awarded to Larsen and Toubro (L&T). With the ramping up of capacity, our contribution to gross state
domestic product of Tamil Nadu would surge to 4.5 per cent from the current 3.3
per cent.” The capacity expansion would take two years and the company is
yet to firm up the commencement of work. The zero date would be fixed within
six month’s time.
Sterlite Industries is
India’s largest diversified metals and mining company. The company produces
aluminium, copper, zinc, lead, silver, and commercial energy and has operations
in India, Australia, Namibia, South Africa and Ireland. The company has a strong organic growth
pipeline of projects.
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