Adani Enterprises arm Kutch Copper commissions its first unit of greenfield copper refinery project in Mundra on Thursday (March 28). Adani Enterprises will be investing nearly $1.2 billion to set up a copper smelter with 0.5 MTPA capacity in the first phase.
On completion of the second phase that will add similar capacity, Kutch Copper, with 1 MTPA, will be the world's largest single-location custom smelter, benchmarking ESG performance standards while leveraging state-of-the-art technology and digitalisation,
Adani Enterprises said in an exchange filing.
The project will create 2,000 direct and 5,000 indirect employment opportunities.
“With Kutch Copper commencing operations, the Adani portfolio of companies is not only entering the metals sector but also driving India's leap towards a sustainable and aatmanirbhar (self-reliant) future,” said Gautam Adani, Chairman of the Adani Group.
“Our speed of execution in this ambitious, super-sized project underscores our commitment to take India to the forefront of the global copper sector. We believe the domestic copper industry will play a crucial role in achieving our nation’s goal of carbon neutrality by 2070 by strengthening our green infrastructure hand in hand with mature environmental stewardship. When commissioned, our modern smelter will set new benchmarks in copper production, with an enhanced thrust on innovative green technology.”
On Thursday, shares of Adani Enterprises Ltd were trading 1% higher at ₹3,154.10 apiece on the NSE. The stock has risen 8% so far this year and gained 100% in the last one year.
First Published: Mar 28, 2024 11:24 AM IST
