Adani Enterprises’ subsidiary, Kutch Copper is setting up a greenfield copper refinery project, to produce refined copper with 1 million tonnes per annum in two phases. The project is valued at INR 8,783 crore, and will reportedly start operations from March next year, helping cut India’s dependence on imports and aiding energy transition.
Jul 23, 2023
Kutch Copper Limited (KCL), Adani Enterprises Limited’s (AEL) subsidiary, will be establishing a greenfield copper refinery project, for the production of refined copper with 1 million tonnes per annum in two phases. As per reports, phase 1, which has a capacity of 0.5 million tonnes per annum, has achieved financial closure through a syndicated club loan. The first phase will reportedly become operational by the end of the current fiscal. The project is valued at INR 8,783 crore, and the plant will be producing 25 tonnes per annum old, 250 tonnes of silver and 1,500 kilotonnes per annum (KTPA) sulphuric acid and 250 KTPA phosphoric acid as byproducts. The factory at Mundra in Gujarat will reportedly start operations from March next year, helping cut India’s dependence on imports and aiding energy transition.
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The strategically located plant at Mundra is expected to play a crucial part in the green energy infrastructure development, and encourage ‘Make in India’. The project has the potential to make the Mundra Special Economic Zone a hub for downstream ecosystems of value-added copper products going forward. Sources said the location provides the additional advantage of access to lower cost and uninterrupted energy supply and logistical infrastructure to cater to domestic and international demand. The company is also engaged in long-term supply agreements for the key raw material, that is, copper concentrate. All these factors are expected to aid Kutch Copper to be one of the most sustainable and lowest-cost copper producers in the world. Keeping in mind the group’s ESG priorities, the plant’s sustainable solution-based project design will have zero liquid discharge. It will explore using green power and deploying byproducts for cement and other businesses.
