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Sterlite copper Restarting to Cost at Least INR 200 crore

Metal News - Published on Fri, 08 Nov 2019

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Express News Service reported that despite a favourable verdict for Sterlite Copper by the Supreme Court, allowing reopening of the Tuticorin plant, the fate of the copper complex now hangs in the balance with inordinate delays in hearing of appeals at the state level. Each day of delay is estimated to cost the management INR 5 crore, in addition to the INR 200 crore it would need to shell out for maintenance and repair to restart the plant. The management of the company has written to the Tamil Nadu Pollution Control Board seeking permission to enter the facility for maintenance checks, but the state government has refused their repeated requests and the courts too have not acceded so far.

Mr Pankaj Kumar, CEO of Sterlite Copper, said that “While our priority is to conclude the hearing and then wait for the judgement from the High Court, we are apprehensive over our assets inside the smelter complex in the absence of any maintenance work. Being a metallurgical plant, regular maintenance is required to keep the assets healthy, in the absence of which many of the load-bearing structures have got corroded, putting the assets at risk and posing a serious safety hazard.”

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Posted By : Rabi Wangkhem on Fri, 08 Nov 2019
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