The closure of which company’s copper smelter plant at Thoothukudi, Tamil Nadu has resulted in an INR 14,749 crore loss to the economy?
Vedanta
Madhav Copper Limited
Sterlite Copper Industries
Hindalco
Answer: Vedanta
The Anil Agarwal-led Vedanta has chosen to sell the Sterlite Copper business in Thoothukudi, Tamil Nadu, and has requested expressions of interest (EoI) from interested parties, putting an end to its efforts to reopen it.
The business has requested “financially capable” participants to submit EoIs by July 4 through a newspaper ad that was released on Monday. Together with Axis Capital, the bid was solicited.
“The Tuticorin plant is a national asset which has been catering to 40 per cent of our national demand for copper and has played an integral role towards India’s self-sufficiency in copper. In the best interest of the country and the people of Tamil Nadu, we are exploring options to make sure that the plant and the assets are best utilised to meet growing demand of the nation,” said a Vedanta spokesperson.
After protests against the company’s plan to increase its capacity from 400,000 tonnes to 800,000 tonnes erupted in 2018, Sterlite Copper stopped operations at the smelter and refining complex after police shootings resulted in the deaths of approximately 13 people and the injuries of approximately 102 others.
The unit has been closed since the shooting in May 2018 as a result of a decision made by the Tamil Nadu Pollution Control Board (TNPCB).
Amazon Quiz: What are the 3 protruding elements on this equipment held by the woman called?
Amazon Quiz: The boy in the center of this picture is affected by which genetic disorder?
Amazon Quiz: Who among these Sri Lankan bowlers has taken 21 wickets in his first 2 Test matches?
