Sterlite Industries to double capacity, to invest Rs 2,500 cr

Company's contribution to TN's GDP to go up to 4.5% from current 3.3%

Vedanta Group firm Sterlite Industries Ltd is planning to double its smelter capacity to 8 lakh tonne per annum (LTPA) with an investment of around Rs 2,500 crore. 

 

With this, the company's contribution to gross state domestic product (GSDP) of Tamil Nadu would go from current 3.3% to 4.5%, said a senior executive from Sterlite Group.

 

Speaking to reporters on the sidelines of the 4th TN Manufacturing Summit, organised by the Confederation of Indian Industry (CII), P Ramnath, CEO, Sterlite Copper, a unit of Sterlite Industries (India) Ltd, said, "The doubling of capacity would be completed in almost two years from the zero date of expansion programmes." He said that the zero date would be fixed within six months' time.

 

With this, the company's employement would go up to 35,500. He added that the company has already completed the first unit of its 160 MW power plant, of 80 MW and plans to start the second unit of 80 MW in next one month. 
 

Total investment into the power project, of which 100 MW would be supplied to the grid, is around 600 crore. It is also planning to set up a desalination plant in Tuticorin, with a capacity of 10 million litres per day (MLD), with an investment of Rs 200 crore, which would be completed in two years. 

 

The contract has been given to L&T, he added. The company's turnover from Tamil Nadu is around Rs 18,000 crore and is expected to touch Rs 19,000 crore by end of this year, he added.