Vedanta Ltd invites EoI to sell Sterlite Copper plant in Thoothukudi
Exploring options to ensure plant and assets are best utilised, says company
Sterlite Copper had stopped production at the smelter and refining complex in 2018, after protests broke out against the company’s plan to expand its capacity from 400,000 tonnes to 800,000 tonnes led to police firing that killed around 13 people and left around 102 people injured
Putting an end to its efforts of reopening the Sterlite Copper unit in Thoothukudi, Tamil Nadu, Anil Agarwal-led Vedanta has decided to sell it and has invited expression of interest (EoI) from interested parties.
Through a newspaper advertisement published on Monday, the company has invited “financially competent” players to submit EoIs by July 4. The bid was invited in conjunction with Axis Capital.
“The Tuticorin plant is a national asset which has been catering to 40 per cent of our national demand for copper and has played an integral role towards India’s self-sufficiency in copper. In the best interest of the country and the people of Tamil Nadu, we are exploring options to make sure that the plant and the assets are