Adani’s $1.1 billion copper project to be commissioned in March next year
[ad_1]
copy photo
google creative common
Copper is known as the ‘metal of electrification’ because of the need for wires for deep electrification. These wires are usually made of copper.
New Delhi. Billionaire industrialist Gautam Adani-led group’s copper factory at Mundra in Gujarat will start operations from March next year. Giving this information, sources said that this will help in reducing India’s dependence on imports and in energy transition. Copper is known as the ‘metal of electrification’ because of the need for wires for deep electrification. These wires are usually made of copper. Important technologies for the energy transition, such as electric vehicles (EVs), charging infrastructure, solar photovoltaics (PV), wind power and batteries, require copper.
Kutch Copper Limited (KCL), a subsidiary of group company Adani Enterprises Limited (AEL), is setting up a copper refinery project to produce one million tonnes of refined copper per annum in two phases. Sources in the know of the matter said that KCL has secured financing for production capacity of five lakh tonnes per annum in Phase-I. He said that the first phase is expected to be operational by the end of the financial year 2022-23. A few days ago, Adani had also said in the company’s annual general meeting that the project was progressing as per its schedule.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
other news
[ad_2]
Source link
