Hindustan Copper restarts Jhagadia Copper

JCL was taken over by HCL through an auction in January 2015; company made a total investment of Rs 300 crore

Government-owned Hindu-stan Copper has commenced production at Jhagadia Copper (JCL), 19 months after acquiring the latter from Asset Reconstruction Comp-any (India) for Rs 210 crore.

Renamed as Gujarat Copper Project (GCP), the erstwhile JCL has production capacity of 50,000 tonnes a year. The company was closed in 2009 for non-availability of working capital.

JCL was taken over through an auction in January 2015. Hindustan Copper made a total investment of Rs 300 crore.  

JCL was promoted by the Khaitan Group of Shalimar Wire Industries and the plan was to set up a secondary copper smelter at Bharuch, Gujarat, in 1992. The project was commissioned in 2003 and commercial production commenced from May 2006.  

Hindustan Copper estimates copper consumption could grow at six to seven per cent a year, due to improvements in the growth rate of the manufacturing, housing, infrastructure and power sectors, spurred by the government's 'Make in India' programme. The electrical and power sectors account for 35 per cent of refined copper consumption, followed by 11 per cent by the transport (automobiles and railways) industry, and another eight per cent each by the construction & consumer durables industry.