Vedanta has put on sale its copper smelter plant in Tuticorin, Tamil Nadu, which was shut four years ago after 13 people were killed in a police firing on protestors agitating against alleged pollution by the unit. The company sought initial bids, called an Expression of Interest (EoI), for the plant having capacity to produce 400,000 tonnes a year by July 4. Axis Capital is helping the firm with the transaction.
The Tamil Nadu government had ordered the permanent closure of the unit in the port city of Thoothukudi in May 2018 following violent protests. The company had in past repeatedly denied allegations of its plant polluting the local environment and had moved the Supreme Court for the opening of the unit. But the apex court had so far not given a clear go-ahead.
Vedanta is a diversified natural resources company, whose business primarily involves producing oil and gas, zinc- lead-silver, copper, iron ore, aluminium and commercial power.
