15th Oct 2009 12:33
15 October 2009
Sterlite Industries (India) Limited
Announces Copper Expansion Project with 160 MW CPP at Tuticorin, India
Vedanta Resources plc's ("Vedanta") subsidiary, Sterlite Industries (India) Limited ("Sterlite") announces a 400 ktpa copper smelter expansion project at Tuticorin in India. The full text of the release issued by Sterlite is set out below.
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Sterlite Industries (India) Limited
Announces Copper Expansion Project with 160 MW CPP at Tuticorin, India
Sterlite Industries (India) Limited ("SIIL" or the "Company"), a subsidiary of Vedanta Resources plc ("Vedanta"), the London - based FTSE 100 metals and mining group, announces a 400 ktpa brownfield copper smelter expansion project at Tuticorin in India, together with an associated 160 MW (2x 80 MW) captive power plant. The project is expected to be commissioned by mid CY2011.
Post this 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 total investment in this project is estimated at around Rs 2,300 crores [equivalent to US$500 million]. 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.
END OF RELEASE
For further information, please contact:
|
Sumanth Cidambi Director - Investor Relations Vedanta Resources plc |
Tel: +44 20 7659 4732 / +91 22 6646 1531 |
|
Faeth Birch Robin Walker Finsbury |
Tel: +44 20 7251 3801 |
About Vedanta Resources plc
Vedanta Resources plc ("Vedanta") is a London listed FTSE 100 diversified metals and mining major. The group produces aluminium, copper, zinc, lead, iron ore and commercial energy. Vedanta has operations in India, Zambia and Australia and a strong organic growth pipeline of projects. With an empowered talent pool of 29,000 employees globally, Vedanta places strong emphasis on partnering with all its stakeholders based on the core values of entrepreneurship, excellence, trust, inclusiveness and growth. For more information visit www.vedantaresources.com
Disclaimer
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