Adani’s $1.2 billion copper venture in Mundra – EQ

Adani’s $1.2 billion copper venture in Mundra

In Short – Adani Group’s purported $1.2 billion copper venture in Mundra signifies potential expansion into the metals sector. With their established presence in various industries, including energy and logistics, this move could bolster local economies and generate employment. For precise details, consulting recent news or official statements from Adani Group is advisable.

In Details – Adani Enterprises’ subsidiary, Kutch Copper, inaugurated its state-of-the-art copper refinery in Mundra, Gujarat, marking Adani’s foray into the metals industry. With a staggering investment of USD 1.2 billion, the first phase of the project boasts a 0.5 mtpa capacity, set to make Kutch Copper the world’s largest single-location custom smelter upon completion of the second phase.

This pioneering venture promises to set new benchmarks in environmental, social, and governance (ESG) performance, leveraging cutting-edge technology and digitalisation. Notably, the project is poised to generate 2,000 direct and 5,000 indirect job opportunities, stimulating local economies.

Driven by burgeoning demand from renewable energy, electric vehicles, and infrastructure development, copper’s vital role in various sectors underscores the strategic significance of Adani’s entry into the metals space.

Kutch Copper’s forward integration strategy includes Kutch Copper Tubes, catering to air conditioning and refrigeration applications. With a strong commitment to sustainability, the plant prioritises environmental conservation, featuring green belt areas, zero-liquid discharge practices, and the use of desalinated water for operations.