Adani group firm Kutch Copper raises Rs 6,071 cr for one mn tonne unit

Funds raised for first phase of greenfield plant, firm signs financing documents with SBI-led consortium

Kutch Copper, a subsidiary of Adani Enterprises, is setting up a greenfield copper refinery project to produce one MTPA (million tonnes per annum) in two phases.

The firm has achieved financial closure of RS 6,071 crore for the first phase.

Phase-1 of the project will have a capacity 0.5 MTPA at Mundra, Gujarat. KCL has signed the financing documents with the consortium led by State Bank of India (SBI).

The other consortium members are Bank of Baroda, Canara Bank, EXIM Bank of India, Indian Bank, Punjab National Bank, and Bank of Maharashtra.

The consortium has sanctioned and signed agreement for the entire debt requirement of Rs 6,071 crore for the phase one of the project, as per a company statement.