Sterlite Copper, a unit of Sterlite Industries (I) and part of the multi billion dollar Vedanta Group, is hopeful of securing a favorable order from the Supreme Court over the next few months on its plea against an earlier order by the Madras high court to close smelter operations.
Senior officials of Sterlite Copper said that the copper smelter’s management has taken a series of steps to implement various compliances laid down by the apex court during the ongoing hearings. It has not only complied with almost all conditions laid down but is also confident of fulfilling the rest over the next couple of months as necessary work is already under way.
Mr P Ramnath CEO of Sterlite Copper said that “We are hopeful of getting a favorable order on our plea, as we have consistently complied with the norms laid down by the authorities as also those laid down by Supreme Court over the past few months during the ongoing hearing. Once we get the nod, we want to go ahead with our long pending expansion program and implement it in a full fledged manner.”
Sterlite Industries had planned to double the capacity of its copper smelter to 8 lakh tonne per annum from 0.4 million tonne at present for an investment of around INR 2,500 crore. However, a Madras high court closure order in September 2010, based on a set of PILs, prevented it from going ahead with the expansion. In the latest hearing, the Supreme Court directed the company to apply immediately for consent of operations with the Tamil Nadu Pollution Control Board and also directed TNPCB to issue the same in about 30 days.
(Sourced from www.mydigitalfc.com)
