Adani Group’s USD 1.2 billion copper manufacturing plant at Mundra will commence its operations by March end aimed to bring down India’s dependence on imports and aid the energy transition. It will have a full-scale 1 million tonnes capacity by FY29 (March 2029).
Feb 05, 2024
Adan Group’s, cited by the sources, USD 1.2 billion copper manufacturing plant at Mundra, Gujarat will commence its operations by March end. The largest single-location copper manufacturing plant in Gujarat will bring down India’s dependence on imports and aid the energy transition. Furthermore, it will have a full-scale 1 million tonnes capacity by FY29 (March 2029). Additionally, a greenfield copper refinery project for the production of refined copper is also being set up by Kutch Copper Limited (KCL) a subsidiary of Adani Enterprises Limited (AEL). The capacity will be expanded to 1 million tonnes per annum in two phases. KCL has secured financial closure via a syndicate club loan in June 2022 for phase 1 capacity of 0.5 million tonnes per annum. The strategic move can be seen as a part of Adani Group’s ambitious plan to become a global leader in the copper business. According to reports, they aim to be the world’s largest copper smelting complex by 2030.
