Adani Group: Adani Group led by Gautam Adani is going to open the country's largest copper plant. This plant will be built in Mundra, Gujarat. The country's copper import will reduce with this plant. Adani Group will invest about $ 1.2 billion on the copper plant. Its first phase will start functioning by the end of March and the capacity of the plant will be about 10 lakh tonnes by the end of financial year 2029.
Demand for green energy is increasing in India
PTI, quoting sources, has reported that India has decided to promote copper production in line with other countries like China. India is promoting other means of green energy to end its dependence on crude oil. For this, emphasis is being laid on the production of electric vehicles (EV), charging infrastructure, solar energy, wind energy and batteries. Copper is required for all these.
5 lakh tonnes will be produced annually in the first phase
According to sources, Kutch Copper Limited (KCL), a subsidiary of Adani Enterprises (AEL), is preparing this greenfield copper project. This project, to be built in two phases, will be able to produce 10 lakh tonnes of copper annually. In the first phase, its capacity will be 5 lakh tonnes annually. Sources said that Adani is taking the copper business very seriously. He wants to become the leader of this sector. He is going to build the world's largest copper smelting complex by the year 2030.
Copper consumption may double by 2030
Per capita copper consumption in India is 0.6 kg while the global average is 3.2 kg. With India's increasing attention towards clean energy, this consumption can double by 2030. Copper is the third most used metal after steel and aluminium. Adani Group is investing heavily in the clean energy sector. Copper production in India is currently insufficient to meet the needs of the country. Tremendous growth has been seen in copper imports in the last 5 years.
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