Industry bodies in Tuticorin welcome Madras HC order on green copper plant

Key Highlights

• The Madras High Court has allowed Vedanta to apply to the competent authorities with its new proposal.
• Welcoming the development, Lion S Thiagarajan, Thoothukudi Makkal Vazhvurimmai Sangam told UNI: “Now there is not much of an opposition to the plant as people understand the economic impact due to the plant closure.” “The closure made many go farming.
• But there too they felt the plant closure impacted the phosphoric acid and sulphuric acid became scarce –earlier byproduct at Sterlite Copper- and the prices of fertiliser went up,” Thiagarajan said.
• Continuing further, Thiagarajan said Sterlite Copper was prompt in paying its vendors.
• While other units used to have a credit period of three months, Sterlite Copper used to settle its vendor bills in seven days.