Vedanta Group is looking to set up a new copper smelter plant in the coastal region of the country at a cost of around Rs 10,000 crore.
This comes at a time when the Group’s copper plant in Tamil Nadu remains shut for nearly three years, causing Rs five crore loss every day. The plant was shut in 2018 after protests from locals.
The company has called for expressions of interest (EoIs) from state governments for setting up a copper smelter unit in a coastal region.
The company is actively on the lookout for a suitable partner state to help take forward the vision of Atmanirbhar Bharat.
The proposed copper smelter plant will have a capacity of 5,00,000 tpa. It will require around 1,000 acre near a port along with logistics connectivity to handle five million tpa of material movement.
According to the EoI, the mega project has investment potential of Rs 10,000 crore and will provide direct and indirect employment to 10,000 people. It will contribute around Rs 3,000 crore to the exchequer annually.