Sterlite Industries (India) LimitedUpdate on Tuticorin Copper Smelter Unit
October 12 2011 - 6:02AM
Business Wire
The Special Leave Petition relating to the Tuticorin based
Copper Smelter Unit of Sterlite Industries (India) Limited (‘SIIL’)
was listed on October 11, 2011 in Hon’ble Supreme Court for
‘Interim Directions’.
Based on the Inspection Report of National Environment
Engineering Research Institute (‘NEERI’), Central Pollution Control
Board (‘CPCB’) and Tamil Nadu Pollution Control Board (‘TNPCB’) the
Hon’ble Supreme Court has directed TNPCB to issue directions,
within two weeks from the date of the order, to the Copper Smelter
Unit of SIIL to implement the improvements measures suggested by
NEERI, CPCB and TNPCB.
The Court has further directed TNPCB to decide on the time-frame
for compliance of the improvement measures. The Hon’ble Supreme
Court has directed that the case be listed in first week of
January, 2011. Interim stay order granted by the Supreme Court
continues and the unit continue to operate as per rated
capacity.
The Tuticorin Smelter has been operating for more than 12 years
and has been in compliance with necessary rules and regulations in
line with the global standards. The company is committed to
employing environmentally friendly technologies and would work in
close coordination with all the agencies to ensure proper
implementations of improvement measures suggested by them.
About Sterlite Industries
Sterlite Industries is India's largest non-ferrous metals and
mining company with interests and operations in aluminium, copper,
zinc and lead and power. It is a subsidiary of Vedanta Resources
plc, a London based diversified FTSE 100 metals and mining group.
Sterlite Industries operates in subsidiaries are Hindustan Zinc
Limited for its zinc and lead operations; Zinc International
operations in Namibia, South Africa and Ireland. Copper Mines of
Tasmania Pty Limited for its copper operations in Australia; and
Bharat Aluminium Company Limited for its aluminium operations. The
company operates its own copper operations in India. The company
has entered the commercial energy generation business and is in the
process of setting up a 2,400MW independent power plant through its
wholly owned subsidiary, Sterlite Energy Limited. Sterlite
Industries is listed on the Bombay Stock Exchange and National
Stock Exchange in India and the New York Stock Exchange in the
United States. For more information, please visit
www.sterlite-industries.com.
Disclaimer
This press release contains “forward-looking statements” – that
is, statements related to future, not past, events. In this
context, forward-looking statements often address our expected
future business and financial performance, and often contain words
such as “expects,” “anticipates,” “intends,” “plans,” “believes,”
“seeks,” “should” or “will.” Forward–looking statements by their
nature address matters that are, to different degrees, uncertain.
For us, uncertainties arise from the behaviour of financial and
metals markets including the London Metal Exchange, fluctuations in
interest and or exchange rates and metal prices; from future
integration of acquired businesses; and from numerous other matters
of national, regional and global scale, including those of a
political, economic, business, competitive or regulatory nature.
These uncertainties may cause our actual future results to be
materially different that those expressed in our forward-looking
statements. We do not undertake to update our forward-looking
statements.
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