Adani makes metals debut as copper unit begins operations

Adani Enterprises on Thursday commissioned the first unit of its copper refinery at Mundra in Gujarat, marking its debut in the metals space through subsidiary Kutch Copper.

Adani Enterprises will invest $1.2 billion to set up the first phase of the copper smelter, with an annual capacity of 500,000 tonnes. The second phase will also add 500,000 tonnes, making Kutch Copper the world's largest single-location custom copper smelter post completion of both the phases, the company said.

"With Kutch Copper commencing operations, the Adani portfolio of companies is not only entering the metals sector but also driving India's leap towards a sustainable and atmanirbhar (self-reliant) future," Gautam Adani, chairman of the group said. The project is likely to create 2,000 direct and 5,000 indirect jobs. It is also expected to have the lowest carbon footprint in its class.


"We believe the domestic copper industry will play a crucial role in achieving our nation's goal of carbon neutrality by 2070 by strengthening our green infrastructure hand in hand with mature environmental stewardship," Adani said.

Copper demand is India is likely to be driven by renewable energy, electric vehicles, charging infrastructure, and the development of power transmission and distribution networks, Adani Enterprises said in a statement.