Closure of copper facility in Tamil Nadu costs Vedanta Group $600 mn

The factory closed in March 2018 for annual maintenance first, and later due to protests when the govt issued an order to close the facility.

With the copper smelting plant of Vedanta Group’s Sterlite Copper in Thoothukudi (Tamil Nadu) lying shut for close to two years now (since May 2018), the losses incurred by the company due to the shutdown are estimated to be around $600 million so far.

The firm has been incurring losses for six consecutive quarters due to the closure and is now seeing a daily loss of Rs 5 crore, said a company executive. The company has been fighting a prolonged legal battle and is now waiting for the Madras High Court’s order on the issue.

The factory had been facing