Adversitement
India Set to Transition from Copper Importer to Exporter with Kutch Copper Ltd
Published On : 2024-03-14T09:13:21+0530 [ IST ] |
Author : Mayur_Tembhare
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India's copper industry is on the cusp of a transformation, as the upcoming operationalization of Kutch Copper Ltd (KCL) in Gujarat signals the country's potential transition from a net importer to a net exporter of copper. Backed by Adani Enterprises Ltd and supported by a consortium of banks led by the State Bank of India, KCL's ambitious project aims to revolutionize India's copper production landscape.
With a planned capacity of 5 lakh tonnes in its initial phase and provisions for expansion, KCL is poised to significantly enhance India's copper production capabilities. The project, set to be located in the Mundra Special Economic Zone, has received all major approvals and is on track for timely execution, according to sources familiar with the matter.
Once fully operational, KCL could nearly double India's copper production, addressing the country's growing demand and potentially leaving a surplus for export. With India's copper production capacity projected to increase by 63%, the total production could reach approximately 10 lakh tonnes, positioning the country as a significant player in the global copper market.
KCL's strategic advantages, including long-term supply agreements for key raw materials and an integrated value chain, are expected to make it one of the low-cost producers of copper. Moreover, the plant's commitment to sustainability, with zero liquid discharge and plans for green power utilization, further enhances its competitive edge.
The project's potential impact on India's copper industry has been underscored during recent discussions, including the hearing on Vedanta's plea to resume the Thoothukudi plant. The Tamil Nadu government's acknowledgment of KCL's capacity to fulfill the country's copper demand highlights the significance of the project in addressing India's copper needs.
In addition to refined copper, KCL aims to produce copper rods, sulphuric acid, gold, silver, and selenium, further diversifying its product portfolio and contributing to India's industrial growth. With KCL's ambitious plans and strategic positioning, India's copper industry is poised for a new era of growth and opportunity, potentially paving the way for the country's emergence as a leading exporter of copper on the global stage.
Source : Business Line
Tags : India , Kutch Copper Ltd , copper production , capacity expansion , sustainable practices. , import , strategic advantage , Adani Enterprises Ltd , export ,
Summary : India's copper production landscape is poised for a significant shift, with the upcoming operationalization of Kutch Copper Ltd (KCL), a unit of Adani Enterprises Ltd, in Gujarat. With a capacity of 5 lakh tonnes in the first phase and plans for expansion, KCL could double India's copper production, potentially enabling the country to become a net exporter of copper from the next fiscal year. The project, backed by a consortium of banks led by the State Bank of India, aims to leverage strategic advantages and sustainable practices to establish itself as a key player in the global copper market.
Adversitement