Adani Enterprises: Gautam Adani will build the world’s largest copper plant, will be ready in Gujarat with 1.2 billion dollars
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Adani Enterprises: Adani Enterprises Limited, the company of India’s richest industrialist Gautam Adani.ael) is building the world’s largest single-site copper plant. This factory is being constructed by the company Mudra of Gujarat. Sources said that this plant will help in reducing India’s dependence on imports and in energy transition. Two sources having knowledge of the matter said that this plant, which is being built with an investment of US $ 1.2 billion, will start operating the first phase by the end of March. He said that the plant will start full-scale operations by March 2029 with a capacity of 10 lakh tonnes.
Copper production will increase in India
Like China and other countries, India is also rapidly increasing the production of copper, which is an important metal to reduce the use of fossil fuels. Technologies critical to the energy transition such as electric vehicles (EVs), charging infrastructure, solar photovoltaic (PV), wind power and batteries all require copper. Kutch Copper Limited (KCL), a subsidiary of Adani Enterprises Limited (AEL), is setting up a 1 million tonne per annum capacity copper refinery project in two phases. A capacity of five lakh tonnes per year will be started in the first phase. For this, KCL had obtained financing in June 2022. One of the sources said Adani Group wants to become a global leader in copper business by leveraging its strong position in resources business, logistics, renewable energy and infrastructure. He said that the per capita copper consumption in India is about 600 grams, while the global average is 3.2 kg.
Adani Enterprises earned Rs 1,888 crore
The net profit of Adani Enterprises Limited (AEL) for the third quarter (October-December) of the current financial year has more than doubled. The flagship company of the group led by billionaire Gautam Adani said that its strong performance was mainly contributed by renewable energy, airports and roads businesses. The company said in the statement that its net profit for October-December, 2023 was Rs 1,888 crore, which was Rs 820 crore in the same period last year. Adani Enterprises said pre-tax profit in green hydrogen business quadrupled to Rs 1,655 crore. Similarly, the pre-tax profit of the road business doubled to Rs 910 crore and the pre-tax profit of the airport business increased by 27 percent to Rs 1,774 crore.
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