Commencing its first phase in March, the plant anticipates an annual production capacity of 500,000 tonnes.
The second phase, targeting an additional 500,000 tonnes, aims to reach a cumulative of 1 million tonnes by March 2029.
India, being a major copper importer, seeks self-sufficiency with Adani's ambitious project.
Crucial for green energy, telecom, and electric vehicles, copper's demand aligns with India's burgeoning sectors.
Adani Group envisions becoming the world's leading copper refinery by 2030, signaling a strategic push into copper production.
The group's robust investments in green energy align seamlessly with the increasing demand for copper.
In tandem with copper, Adani Copper aims to produce valuable by-products, including gold, silver, platinum, and selenium.
This diversification strategy enhances the economic viability and sustainability of the project.
Historically, the Sterlite copper refinery in Tuticorin, a Vedanta group establishment, held the mantle of India's largest copper refinery.
However, the Sterlite plant faced closure due to protests from the residents of Thoothukudi, opening the door for Adani's transformative entry.
The Adani plant is poised to enter the market amid a surge in global copper demand driven by the escalating shift towards renewable energy in the energy transition. Notably, the demand for copper is expected to experience significant growth in the US, China, Europe, and India as these regions transition away from fossil fuels.
China, in particular, is undergoing a rapid expansion of its copper industry, reshaping the worldwide dynamics of this essential metal crucial for the global energy transition, according to a Bloomberg report. The robust growth of China's copper smelters is anticipated to exert pressure on global counterparts, compelling them to offer competitive prices for the necessary feedstock. This trend might lead to the closure of older smelters elsewhere in the world. China's trajectory in expanding smelting capacity mirrors the historical pattern observed in its other metal industries. Notably, until 2006, China was a net importer of steel.