Hindustan Copper is planning to raise up to Rs 1,000 crore this year through equity issue to fund its major expansion plans. For Chhattisgarh, we have formed joint venture with state mineral development body as we don't have a presence in the state," Hindustan Copper chairman and managing director Santosh Sharma said. Despite these projects, Hindustan Copper would still remain small compared with two other private sector copper refiners, Vedanta and Hindalco. "If we compare ourselves, Vedanta and Hindalco together have smelting capacity of 9.5 lakh tonne while our capacity is 1 lakh tonne now theoretically while actual output in about 70,000 tonne. The closure of Vedanta's Tuticorin plant, however, would have little impact on the domestic demand-supply scenario as domestic demand is about 6.5 lakh tonne against availability of over 9.5 lakh tonne.

Source: dna June 05, 2018 20:48 UTC