Ahmedabad: Making a debut for the Adani Portfolio in the metal industry, Kutch Copper, a subsidiary of Adani Enterprises Limited (AEL), on Thursday commissioned the first unit of its greenfield copper refinery project at Mundra, Gujarat, by dispatching the maiden batch of cathodes to customers.
Read More: Gold Rate Today In India: Check Latest 24 Carat Price In Your City On March 28
It will create 2,000 direct and 5,000 indirect employment opportunities.
Adani Enterprises is investing nearly $1.2 billion to set up a copper smelter with 0.5 MTPA (million tonnes per annum) capacity in the first phase.
“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, Founder and Chairman of 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,” Gautam Adani added.
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, the company said in a statement.
Read More: Goldman Sachs raises Reliance Industries stock target price with ‘buy’ rating, sees 54% upside
“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,” Gautam Adani added.
“When commissioned, our modern smelter will set new benchmarks in copper production, with an enhanced thrust on innovative green technology,” Adani Group Chairman added.
The demand for copper will be driven by renewable energy, electric vehicles, charging infrastructure, and the development of power transmission and distribution networks.
The technology used by Kutch Copper is engineered to have the lowest carbon footprint.
One-third of the plant area has been designated as green belt space, and 15 per cent of the capital has been allocated towards environmental protection.
Read More: Alibaba scraps Cainiao IPO plans, proposes acquisition: ‘Poor market conditions’
To minimise the ecological impact, the plant has implemented a zero-liquid discharge model and uses desalinated water for operations. It also recycles treated wastewater within processes to reduce waste, said the company.
