Vedanta to invest Rs. 6,000cr, double smelter capacity.

Vedanta Group is getting aggressive with capacity expansion in Tamil Nadu. The company, which has its copper smelter in Tuticorin and an aluminium factory in Mettur, has drawn up a Rs. 6,000-crore investment programme to be spent over the next 12 to 24 months. It is also planning a foray into solar in the state. Speaking to TOI, P Ramnath, CEO of Sesa Sterlite -the company that runs the smelter -said the process to double smelter from the present capacity of four lakh tonnes a year has begun. Upon completion of expansion, the Tuticorin complex will be the world's largest single location copper smelter. "We have environmental clearance. We must renew it and then go ahead for other statutory approvals before we start work on capacity expansion," he said. He expects the process to be completed in eight to 10 months. Copper production targets have been revised from 3.8 lakh tonnes last year to four lakh tonnes this year, he said. "While the overall market for copper has grown only 5%, domestic demand growth has risen 10 to 15% due to increased consumption on the back of economic activity," he said. The group, he said, was planning to restart Malco, the aluminum plant in Mettur, by bringing in aluminium ingots, and make wires and end products. "Basically, we want to restart the plant for downstream products in the short term and see how we can make the entire plant work in the long term," he said. On plans to set up 50MW solar power plants near Mettur, he said, "We have lands for solar project. To begin with we will have 5MW plant and feasibility study for the project is underway ." The cumulative investments for all the three could be in the range of Rs. 6,000 crore, he said.