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Copper end-users urge Tamil Nadu govt to work out solution to restart Tuticorin plant

Copper end-users urge Tamil Nadu govt to work out solution to restart Tuticorin plant
indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.

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Don't close Tuticorin Sterlite plant, govt told | Coimbatore News

Coimbatore: The Railway Suppliers Association and Coimbatore Compressor Industries Association (COCIA) have written to chief minister Edappadi K Palaniswami requesting him to reconsider the decision to shut down Tuticorin Sterlite plant permanently. They said closure of the plant since May 2018 has led to refined copper production coming down by 50%, which in turn has led to prices of the metal to shoot up by 85% recently.
The associations said before the lockdown copper price was at Rs 380 per kg, however since then it has spiked to Rs 712 per kg, a hike of 85% within a year.
“This month alone, price has increased by 21% and banks estimate that the metal price will reach Rs 1000 per kg,” said COCIA president M Raveendran. “While closure of the Sterlite plant had lead to refined copper production to fall by more than 50%, import of the same increased by 120% in 2018-’19, and further increased by 70% in 2019-’20,” he said. ....

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Engineering units seek re-opening of Sterlite plant

‘Reconsider decision to shut down Sterlite plant’
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A section of the engineering units here have appealed to the State government to not shut down the Sterlite plant at Thoothukudi permanently as copper prices have increased manifold in the last few months.
The Coimbatore Compressor Industries Association and Railway Suppliers Association said copper prices on March 22 last year were ₹380 a kg and shot up to ₹712 a kg now. In February this year, the prices had seen 21 % hike and there was a threat of further increase. In Coimbatore, there were nearly 1,000 manufacturers of pumps and motors. Enamelled copper wire was one of the essential raw materials for these units. The cost of copper was approximately 20 % in the price of a small electric motor. It had increased to 33 % now. The manufacturers could not pass on this cost. ....

Tamil Nadu , Coimbatore Compressor Industries Association , Union Budget , Railway Suppliers Association , Customs Duty , தமிழ் நாடு , கோயம்புத்தூர் அமுக்கி தொழில்கள் சங்கம் , தொழிற்சங்கம் பட்ஜெட் , ரயில்வே சப்ளையர்கள் சங்கம் , சுங்க கடமை ,

Tamil Nadu CM urged to reconsider decision to shut down Sterlite plant | Coimbatore News

Tamil Nadu CM urged to reconsider decision to shut down Sterlite plant | Coimbatore News
indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.

Tamil Nadu , Edappadik Palaniswami , Coimbatore Compressor Industries Association , Railway Suppliers Association , தமிழ் நாடு , கோயம்புத்தூர் அமுக்கி தொழில்கள் சங்கம் , ரயில்வே சப்ளையர்கள் சங்கம் ,

Customs Duty cut expected to bring down raw material prices

Customs Duty cut expected to bring down raw material prices
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Engineering units in Coimbatore will benefit from the Budget proposal
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Engineering units in Coimbatore will benefit from the Budget proposal
The Union Budget announcement on Monday reducing Customs Duty on steel and ferrous and non-ferrous scrap is expected to bring down raw material prices for the engineering units in Coimbatore.
According to the Coimbatore District Small Industries Association president M.V. Ramesh Babu, several announcements are expected to benefit the MSMEs. For metal recyclers, import duty is exempted till end of March next year.
Indian Chamber of Commerce and Industry, Coimbatore, president C. Balasubramanian, said the government had taken the right steps in the budget and planned to increase its spending in different sectors. Coimbatore was a hub for textiles and MSMEs and the announcements would benefit these sectors. A mega textile p ....

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