Vedanta Group plans to set up a coastal copper smelter in India for Rs 10,000 crore as it suffers a daily loss of Rs 5 crore for a plant that has been shut for nearly three years in Tamil Nadu.
Vedanta Ltd, a subsidiary of Vedanta Resources, on Wednesday called for Expression of Interest (EOI) from state governments for the 500 KTPA (Kilo Tonnes Per Annum) smelter that will require around 1,000 acres of land. It needs a port nearby and logistics to handle 5 MTPA (Million Tonnes Per Annum) material movement.
According to the EOI, the project has an investment potential of around Rs 10,000 crore, will provide direct and indirect employment to 10,000 people and will contribute around Rs 3,000 crore to the exchequer annually.
Vedanta’s plant in in Thoothukudi, Tamil Nadu, shut down in May 2018 after the police fired on people protesting against pollution and killed 13 people. The protesters alleged that the plant posed a health hazard and picked up after Vedanta announced an expansion plan.
The 400,000-tonne capacity plant, which met around 35-40 per cent of the country's copper requirement, was shut down after the state’s pollution control board recommendations.
Tamil Nadu’s political parties are not in favour of reopening it.
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