Adani Group's refined copper facility to be operational from March 2024: Report  

Gautam Adani-led Adani Enterprises' copper-producing factory at Gujarat’s Mundra will begin operations in March 2024. The greenfield copper refinery project is being made at a cost outlay of Rs 8,783 crore and has an annual production capacity of 1 million tonnes (MT). Adani Enterprises’ subsidiary Kutch Copper Ltd (KCL) is setting up a greenfield copper refinery project for refined copper production in two phases.

For the first phase, KCL has planned a capacity of 0.5 MT and has achieved financial closure through a syndicated club loan, PTI reported citing sources aware of the matter. The first phase is expected to become operational by the end of the current fiscal year, the sources added. The plant will also produce 25 tonnes per annum gold, 250 tonnes of silver, and 1,500 kilotonnes per annum (KTPA) sulphuric acid and 250 KTPA phosphoric acid as byproducts.

The greenfield project completed a full debt tie-up with an SBI-led consortium of banks earlier this year, sources mentioned. They added the entire debt requirement of Rs 6,071 crore has been provided by the banks.

This plant is aimed at meeting India’s copper production needs, reducing India’s dependence on imports, and aiding energy transition. The copper plant has the potential to make the Mundra Special Economic Zone a hub for downstream ecosystems of value-added copper products. The location also provides access to lower cost and uninterrupted energy supply and logistical infrastructure to cater to domestic and international demand.

At present, the company is engaged in long-term supply agreements for copper concentrate. This coupled with strategic location and integrated value chain advantage will help Kutch Copper become one of the most sustainable and lowest-cost copper producers in the world.

The plant’s sustainable solution-based project design will have zero liquid discharge, explore using green power and deploy byproducts for cement and other businesses.

This development comes days after Gautam Adani said at the company’s annual general meeting (AGM) that the copper smelter is on schedule. Adani said: “Of the several projects underway, two of the key ones include the Navi Mumbai Airport and the Copper Smelter, and both are on schedule”.

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