Vedanta Group profit may take 2-3% hit on Sterlite Copper closure

Company puts construction of plant-II on hold, is focusing on restarting plant-I

The continuing shutdown of the Sterlite Copper Plant in Thoothukudi, Tamil Nadu, is likely to deliver a 2-3 per cent hit to Vedanta Group's profit. The company said it is putting on hold the construction of plant-II till such time as things settle down, and added that the focus will be on restarting plant-I.

The plant was shut down since March, initially as part of a yearly maintenance, and later due to the rejection of Consent to Operate (CTO) by the Tamil Nadu Pollution Control Board (TNPCB), followed by the state government's order to permanently close the facility. The government action came