Closure of Sterlite Copper Jeopardizes Downstream Industries
- 28-Sep-2019 8:13 PM
- Journalist: Patrick Knight
Sterlite copper plant in Thoothukudi was shut down in May 2018, by the order of Tamil Nadu government leading to acute shortage of copper forcing the country to import the product.
Sterlite copper plant was producing 4 lakh tonnes copper per year meeting, 38% of country’s copper demand. The closure severely affected various industries including fertilizer and detergent industry whose major raw material sulphuric acid, was manufactured and supplied by the thoothukudi unit.
A total of 202 KT of copper & related products have been imported during April-November 2018, while the import in 2017-18 fiscal stood at 215 KT. The Imports during the FY2019 is anticipated to raise by 41% as compared to previous year to 303 KT.