Report
Vedanta Copper plans $2.3 billion expansion and a possible Tamil Nadu smelter restart
The Economic Times reports roughly $2 billion would go to Saudi operations; restarting the Tuticorin smelter would require approval.
TLDR
The Economic Times reports Vedanta Copper plans to spend around $2.3 billion over three to four years, with roughly $2 billion for Saudi operations. CEO Puneet Khurana said the company aims to produce 500,000 tonnes of copper each in India and Saudi Arabia. Its Tuticorin smelter was ordered shut in 2018 over environmental concerns. If a restart proposal is approved, Vedanta plans to spend $250 million refurbishing and restarting it.
Combined views
7.2K
1 Source, first seen ago