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The first 500,000 tons of capacity at the $1.2 billion facility in Mundra in the western state of Gujarat is set to start operations next month, according to Vinay Prakash, chief executive officer at Adani Natural Resources.
Gautam Adani's conglomerate has secured contracts to purchase 1.6 million tons annually of copper concentrate for its Mundra-based smelter, set to become the world's largest single-location facility for the metal. The $1.2 billion plant, with an initial capacity of 500,000 tons, is slated to commence operations next month, expanding to 1 million tons by March 2029 to meet India's projected doubling of copper demand.
Goldman Sachs and Morgan Stanley endorsed India as the prime investment destination for the next decade, contributing to the surge of wealth in the nation. Adani's empire spans diverse sectors, including coal, ports, airports, data centers, media, and green energy.
According to Bloomberg’s Billionaire Index, Gautam Adani currently has a net worth of Rs 834946 crore (100.7 billion dollars), the highest since the Hindenburg report. Gautam Adani is now the 12th richest person in the world,
During Question Hour of the budget session of the Assembly, Congress MLA Tushar Chaudhary sought to know the rates at which the government purchased electricity from Adani Power Ltd during 2022 and 2023.