Adani Group unveils $1.2 billion copper manufacturing plant in Mundra, Gujarat

Adani copper plant: Gautam Adani-led Adani Group announced the inauguration of the first phase of the world's largest single-location copper manufacturing plant at Mundra in Gujarat. This significant development aims to bolster India's metal production capabilities, reduce import dependence, and facilitate the country's transition towards sustainable energy.

Commissioning of Kutch Copper Refinery marks milestone

Kutch Copper, a subsidiary of Adani Enterprises Ltd, has successfully commissioned the first phase of the $1.2 billion greenfield copper refinery. The refinery dispatched its maiden batch of cathodes to customers, initiating operations that are set to transform India's copper industry landscape.

Fulfilling India's growing demand for copper

With a capacity to produce 0.5 million tonnes of refined copper annually, the first phase of the refinery is operational, with plans to scale up to 1 million tonnes by FY29. India's burgeoning demand for copper, driven by the energy transition towards renewable sources and electric vehicles, underscores the significance of this milestone.

India's energy transition

Copper plays a pivotal role in various technologies critical to the energy transition, including electric vehicles, charging infrastructure, solar photovoltaics, wind power, and batteries. Adani Group's investment in the copper refinery aligns with the nation's goals of reducing carbon emissions and achieving energy security.

Upon completion of the second phase, Kutch Copper will emerge as the world's largest single-location custom smelter. At par with environmental, social, and governance (ESG) standards, the project underscores Adani Group's commitment to leveraging advanced technology and digitalisation while creating employment opportunities.

Transformative impact on India's metal sector

Adani Group's foray into copper manufacturing signifies a significant expansion of its business portfolio, further strengthening its presence in trading, mining, logistics, infrastructure, and manufacturing. The integrated complex is poised to meet India's growing demand for refined copper while contributing to industrial and economic growth.

The shares of Adani Enterprises rose 1.47 per cent to an intraday high of RS 3,165 apiece on the National Stock Exchange on Thursday, March 28, 2024.

(With PTI inputs.)