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Nairaland Forum / Nairaland / General / Adani Group Has Operationalised The 1st Phase Of Kutch Copper Production Plant (108 Views)
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Adani Group Has Operationalised The 1st Phase Of Kutch Copper Production Plant by rossgeller: 6:01am On Apr 16 |
The Adani Group has recently announced that it is starting work on the first phase of its copper manufacturing plant at Mundra in Gujarat. This is the world's largest single-location copper manufacturing plant, and it will help India reduce its dependence on other countries to import copper. It will help our country smoothly shift to renewable energy sources. Such growth will not only prove positive for the Group but also allowing it to tackle all challenges like Adani CBI investigation with ease as the growth will lead to gain the trust of the stakeholders. Kutch Copper: An Overview Kutch Copper, a wholly-owned subsidiary of Adani Enterprises Limited, had commissioned the first phase of the 1.2 billion USD copper refinery by dispatching multiple batches of copper cathode to the customers. This was done just after the Adani CBI Investigation came to a halt. The power plant's first phase will produce 0.5 million tonnes of refined copper annually. The company has already started copper production in full scale, and a total capacity of 1 million tonnes is expected by FY29. By inaugurating the first phase of the copper plant, which is just the beginning, India aims to make it big in the copper sector in the coming years. The second phase of the copper refinery will be completed soon enough. It will have a capacity of 1 million tonnes per annum. With its completion, the copper production plant will become the world's largest single-location custom smelter. It is also going to serve as a benchmark for ESG performance standards. The plant is being built with highly advanced forms of technology. It will also pave the path towards digitalisation. Upon successful completion of the project, a total of 2,000 direct and 5,000 indirect job opportunities will be created. This will bring about an overall improvement in the living standards of people in the Kutch area and other parts of India. Why Increase Copper Production Capacity? Copper is one of the most crucial metals that can help reduce our reliance on exhaustive energy sources. Copper is also the third most used industrial metal. Multiple technologies are inevitable for energy transition, such as electric vehicles, solar photovoltaics, charging infrastructure, batteries, etc. All these technologies require copper for operations. Copper is also used frequently in telecom and developing distribution and power transmission networks. By increasing our copper production capacity, we will ensure that the renewable energy transition takes place more smoothly. We will also no longer have to spend a lot of money importing large amounts of copper from other nations. The copper production plant will allow the Adani Group to fulfill its renewable energy goals. It will be able to take one step ahead towards achieving sustainability in its various business operations. India's Current Copper Requirements: India's current per capita copper consumption is around 0.6 kg compared to the global average of 3.2 kg. India is continuously leading the way towards adopting cleaner energy systems. There has also been an increase in the number of electric vehicles on the streets of India. Many other associated applications, including charging infrastructure, are also being implemented. This is expected to increase the global copper demand gradually. Copper imports have been consistently on the rise over the past five years. India imported 1,81,000 tonnes of copper in FY23, which will only increase in the upcoming years. The demand for copper is going to double by 2030. The global demand for copper from solar photovoltaic installation will also reach 2.25 million tonnes in the present decade, and the only way to meet this demand would be to increase the production capacity of copper. With the copper power plant in Gujarat becoming operational, we will be able to meet our increased copper demand. Currently, Kutch Copper is trying to establish Kutch Copper Tubes Limited as a part of its integration strategy. By doing so, it can add copper tubes to its portfolio. These tubes will cater to applications in refrigeration and air conditioning. Kutch Copper will also produce copper rods, cathodes, and by-products like gold, silver, platinum, and selenium. The integrated complex will also produce sulphuric acid, which is once again a raw material for various industries, such as pharmaceuticals, detergents, speciality chemicals, etc. This will offer the Adani Group extraordinary success after the Adani CBI Investigation. Conclusion: By entering the copper production segment, the Adani Group has increased its copper production capacity and reduced India's dependence on other countries for copper production. In the upcoming years, we expect to see the Adani Group participate in more such extraordinary ventures, each of which will pave the way for future success for the global conglomerate.
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