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Vedanta Resources (VED)

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Thursday 15 October, 2009

Vedanta Resources

Copper Expansion Project

RNS Number : 8435A
Vedanta Resources PLC
15 October 2009
 



   15 October 2009


Sterlite Industries (India) Limited

Announces Copper Expansion Project with 160 MW CPP at TuticorinIndia


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


sumanth.cidambi@vedanta.co.in

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

This press release contains "forward-looking statements" - that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should" or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.



This information is provided by RNS
The company news service from the London Stock Exchange
 
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