Sterlite to invest Rs 2,300 crore in Tuticorin

Sterlite Industries plans to invest Rs 2,300 crore in a 400 kilo tonnes per annum (ktpa) brownfield copper smelter expansion project at Tuticorin in Tamil Nadu. The proposal also includes a 160 MW (2x 80 MW) captive power plant.

The project is expected to be commissioned by mid-2011. Post expansion, the company will be one of the largest single location custom copper smelters in the world with a total smelting capacity of 800 ktpa. The new smelter will utilise the ISA Smelt technology currently used in the existing smelter at Tuticorin.

The capital investment includes the cost of the smelter, refinery, the captive power facility and other associated facilities such as sulphuric acid plant and phosphoric acid plant. The project will be funded through a mix of debt and internal accruals.

Sterlite Industries is one of the largest non-ferrous metals and mining company with interests and operations in aluminium, copper, zinc and lead and power. The company’s main operating subsidiaries are Hindustan Zinc for its zinc and lead; Copper Mines of Tasmania for its copper in Australia and Bharat Aluminium Company for aluminium operations.