Mining mogul Anil Agarwal’s Vedanta Ltd on Monday put on sale its copper smelter plant in Tuticorin in Tamil Nadu, which was shut four years ago after 13 people were killed in a police firing on protesters agitating against alleged pollution by the unit.
In newspaper advertisements, the company sought initial bids, called an Expression of Interest (EoI), for the plant having capacity to produce 4,00,000 tonnes a year by July 4. Axis Capital is helping the firm with the transaction.
The Tamil Nadu government had ordered the permanent closure of the unit in the port city of Thoothukudi in May 2018 following violent protests.
The company had in past repeatedly denied allegations of its plant polluting the local environment and had moved the Supreme Court for the opening of the unit.
But the apex court had so far not given a clear go-ahead.
A company spokesperson said the Tuticorin plant is a national asset that has been catering to 40 per cent of the domestic demand for copper and has played an integral role in the country’s self-sufficiency in copper.
“In the best interest of the country and the people of Tamil Nadu, we are exploring options to make sure that the plant and the assets are best utilised to meet the growing demand of the nation,” the spokesperson said.
In the advertisement, the company said the Tuticorin plant, operated by its subsidiary Sterlite Copper, produced about 40 per cent of India’s demand for copper and gave direct employment to 5,000 people and indirect jobs to another 25,000.
“Sterlite Copper, a unit of Vedanta, has a world-class and zero-discharge plant at Tuticorin with the world’s best technology and an installed capacity of 400,000 tonnes per annum of integrated copper smelter and refinery, with another 400,000 tonnes under expansion,” it said.