Vedanta puts up Tuticorin copper plant for sale

Vedanta has invited Expression of Interest (EoI) for its Tuticorin-based smelter, which has been shut since mid-2018, following a Tamil Nadu government order. The last day to submit EoI is July 4th, and the bids have been invited in conjunction with Axis Capital.Plant units, including oxygen generation facility as well as residential homes, are also part of the sale offer. The plant has faced closures over alleged violation of environmental norms.

The metals and mining conglomerate has posted an advertisement inviting EoIs by July 4 for the plant, which it said accounted for 40% of India’s copper output and employed thousands. At the time of closure, it employed 5,000 people directly, and another 25,000 indirectly.