Vedanta’s daily losses since smelter shutdown total ₹1380 crore


Vedanta’s daily losses since smelter shutdown total ₹1380 crore

Vedanta Ltd told an Indian court it has been losing50 million ($706,000) a day ever since the closure of one of its copper smelters in May, after police fired on protesters against the plant and killed 13 people.

The Tamil Nadu government ordered the smelter shut permanently on 28 May last year after bloody protests at the plant in the city of Thoothukudi culminated in police opening fire on demonstrators.

The “unit has been and is continuing to suffer a daily loss of about 5 crores ( 50 million rupees),” Vedanta said in a petition to the Madras High Court reviewed by Reuters. Read More

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