Sterlite losing Rs 50 cr revenue daily due to plant closure

CEO welcomes National Green Tribunal's interim order

Sterlite Industries is losing around Rs 50 crore reveune every day due to the closure of its copper plant at Tuticorin.

Responding to today's National Green Tribunal's interim order P Ramnath, chief executive officer, Sterlite Copper, an unit of Sterlite Industries said that "I think this is a welcome move, that the court has given". He was speaking to Business Standard after the hearing at National Green Tribunal at Chennai.

In fact, this is what we have been telling the TNPCB all along and they should have constituted a technical Team to come to our plant and spend some time and actually inspect the entire plant.

This should have been done right at the start before taking the drastic step of closure of the plant, said Ramnath.

He added, the Board should not have taken the decision to close the plant in such haste.

"We lose roughly around Rs 50 crore revenue per day due to the closure of plant," said Ramnath.