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Indian billionaire Gautam Adani has started operating the first unit of his $1.2 billion copper smelter, the tycoon’s first foray into metals refining.
The plant will be the world’s largest single-location custom smelter for the industrial metal. It will initially have capacity of 500,000 tons a year, and this will double in the second phase of the project. “With Kutch Copper commencing operations, the Adani portfolio of companies is not only entering the metals sector, but also driving India’s leap towards a sustainable and self-reliant future,” Adani said in the statement.
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