Team News Riveting
Mumbai, June 20
Vedanta Limited has clarified that the sale of its arms Sterlite copper smelting plant in Thoothukudi in Tamil Nadu is only at an exploratory stage.
The metal, mining major was responding to a query raised by stock exchange regarding reports appeared in the newspaper that Vedanta has put on sale its Sterlite copper smelting plant at Thoothukudi in Tamil Nadu. The report said after facing a lot of hurdles in reopening the unit, the company had invited an expression for interest from the potential buyers.
The plant was closed in 2018 following the Tamil Nadu Pollution Control Board’s order over environment concerns.
“This is with reference to your email dated June 20, 2022 on the captioned subject with respect to recent news item which appeared in the “economictimes.indiatimes.com” dated 20th June 2022 captioned “Vedanta puts Tuticorin Copper smelter on sale, seeking a response from the Company on the same,” Vedanta Limited said in a regulatory filing, adding, “In this regard, please note that the captioned matter is only at an exploratory stage and any such final proposal will only be carried after obtaining necessary approvals and in compliance with all applicable laws including, making any disclosures as may be deemed necessary under Regulation 30 of SEBI (LODR) Regulations, 2015.”
The Company has always been promptly complying with all disclosure requirements from time to time under SEBI (LODR) Regulations, 2015, it added.
