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SC defers plea on re-opening Vedanta's Tamil Nadu copper smelter plant to Feb 20
Money Control
·
1y ago
Medial
The Supreme Court has deferred the hearing on Vedanta's plea to February 20, regarding the reopening of its Sterlite copper smelter plant in Tamil Nadu. The court suggested the formation of a committee to study the feasibility of reopening the plant, and senior advocates representing Tamil Nadu and the state's pollution control board expressed their intention to consult with stakeholders. The plant was closed in 2018 due to violent protests and alleged violations of environmental norms. Vedanta is seeking periodic access to the plant for maintenance work.
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Big setback for Vedanta: SC junks plea for reopening Sterlite copper smelter plant in Tamil Nadu
Money Control
·
1y ago
Medial
The Supreme Court has rejected Vedanta's request to reopen its Sterlite copper smelter plant in Tamil Nadu. The court cited the principle of sustainable development and the health concerns of the residents as the basis for its decision. Vedanta was found to have failed to comply with legal obligations, including the removal of copper slabs from multiple sites. The closure of the plant in 2018 had led to violent protests resulting in fatalities. The Supreme Court had suggested the possibility of reopening the plant but the state government and pollution control board were not in agreement.
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Vedanta may file review petition in SC for re-opening of copper plant in Tamil Nadu
Money Control
·
1y ago
Medial
Mining conglomerate Vedanta Ltd is exploring legal options, including filing a review petition, after the Supreme Court dismissed its plea to reopen its Sterlite copper smelter plant in Tamil Nadu. The plant has been closed since May 2018 due to pollution concerns. The court emphasized the importance of the health and welfare of local residents. Vedanta Resources, the parent company, has been trying to strengthen its finances and is burdened with an outstanding debt of $6.4 billion.
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Tamil Nadu to SC: Vedanta’s Sterlite Copper not a national asset
Livemint
·
1y ago
Medial
The Tamil Nadu government has stated that Vedanta Ltd's Sterlite Copper plant should not be considered a national asset and argued that Adani Group's upcoming copper smelter plant in Gujarat can fulfill India's copper demand. The Sterlite Copper plant, which was shut down in 2018 due to protests, contributed to 40% of India's copper demand. The state government opposed reopening the plant, citing allegations of pollution and stating that the closure has not caused any economic loss to the region. Vedanta, however, expressed its willingness to form a committee and abide by its recommendations for reopening the plant.
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Vedanta gains on plans to move SC on Sterlite copper plant reopening
Money Control
·
1y ago
Medial
Vedanta plans to file a review petition in the Supreme Court regarding the closure of its Thoothukudi copper smelter plant. The company's shares rose by 0.46% following the news. Vedanta had previously filed a special leave petition against the Madras HC's decision to close the plant, but the Supreme Court dismissed the plea on February 29. The court cited Vedanta's non-compliance with legal obligations as the reason for the decision. The stock price of Vedanta has risen more than 18% in the past six months.
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Vedanta eyes $2 billion copper project investments in Saudi Arabia | Company Business News
Livemint
·
8m ago
Medial
Mining company Vedanta Ltd. plans to invest $2 billion in significant copper projects in Saudi Arabia. The company's subsidiary, Vedanta Copper International, has signed an agreement with the Saudi Arabian Ministry of Investment and Ministry of Industries & Mineral Resources to establish a greenfield copper smelter and refinery and a copper rod project. The investment supports Saudi Arabia's Vision 2030, which aims to increase the minerals sector's GDP contribution and tap into $1.3 trillion worth of mineral resources. Vedanta's projects will contribute to job creation and downstream industry development, while also boosting the nation's GDP by $19 billion.
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Tata’s ₹6,000 crore Hosur facility to begin manufacturing iPhones in November 2024, says report | Mint
Livemint
·
11m ago
Medial
Tata Electronics' iPhone manufacturing plant in Hosur, Tamil Nadu, is set to commence production in November. It is Apple's fourth assembly plant in India and will be dedicated to manufacturing iPhones. The facility is expected to employ 50,000 blue-collar workers, making it the second-largest iPhone facility in Tamil Nadu. The plant aims to boost Apple's local production and supply chain localization efforts in India. The expansion of manufacturing in India is part of Apple's strategy to diversify its operations beyond China.
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Odisha clears JSW's Rs 40,000 Crore proposal to set up EV manufacturing units
OutlookIndia
·
1y ago
Medial
The Odisha government has approved a proposal by the JSW Group to establish electric vehicle (EV) manufacturing units in Cuttack and Jagatsinghpur districts with an investment of Rs 40,000 crore. The project aims to create over 11,000 jobs. JSW plans to set up an EV and EV battery manufacturing project in Cuttack, along with an original equipment manufacturing (OEM) plant for EVs and components. In addition, a complex for EV components manufacturing, including a copper smelter and a lithium smelter, will be set up in Jagatsinghpur. The state government also approved various other policies and projects.
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SC dismisses Vedanta plea to reopen copper plant
Thehindubusinessline
·
1y ago
Medial
The Indian Supreme Court has upheld the closure of Vedanta Sterlite's Thoothukudi copper plant, dismissing an appeal to reopen it. The court endorsed the public's right to health over industry gains, ruling that the plant's repeated breaches and serious violations of environmental regulations left no option but to shut it down. The court acknowledged the contributions of the plant to the nation's assets and the local economy but emphasized the principles of sustainable development, public trust, and holding polluters accountable. The closure of the plant in 2018 followed nearly three decades of local protests and came after previous attempts to address violations.
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Ather Energy To Set Up Third Manufacturing Facility In Maharashtra As EV Sales Rise
Inc42
·
1y ago
Medial
Ather, an electric vehicle startup, plans to expand its manufacturing and set up a new plant in Hosur, Tamil Nadu. This move aims to increase its market reach and reduce logistics costs. The company already operates two facilities in Tamil Nadu for battery production and vehicle assembly. Ather is preparing for an initial public offering (IPO) and faces competition from Ola Electric and TVS.
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Tamil Nadu CM MK Stalin inaugurates VinFast's first EV plant in India at Thoothukudi
IndianStartupNews
·
4d ago
Medial
Tamil Nadu Chief Minister M.K. Stalin inaugurated VinFast's first Indian electric vehicle (EV) plant in Thoothukudi. The facility, located on 408 acres, can initially produce 50,000 vehicles annually, with expansion plans to 150,000 units. Specializing in assembling premium SUVs for domestic and export, it marks VinFast’s third global facility. The plant aims to boost India’s manufacturing ambitions, leveraging Tamil Nadu's industrial strength and skilled labor. VinFast targets 200,000 global deliveries in 2025.
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