Adani’s Kutch Copper to start smelting operations soon
The Adani Group's fully-owned Kutch Copper smelter in Gujarat's Mundhra is expected to begin operations in a few weeks, market sources stated on Monday.
In a significant development, the Tamil Nadu government has cancelled global tender for smart meters procurement despite Adani Energy Solutions Ltd (AESL) being the lowest bidder. The Tamil Nadu Generation and Distribution Corporation Ltd, has cited the high cost exceeding its budget as the reason.
It is a victory for the anti-corruption NGO, Arappor Iyakkam, which has been campaigning for long against awarding the contract to the Adani Group, alleging huge scale corruption in it. The opposition Pattali Makkal Katchi (PMK) has also opposed the move.
According to Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) sources, the decision was taken following failure of negotiations to bring down the price. Now, the state-runt utility is planning to issue a fresh global tender for the smart meters. Installing smart meters is part of the Rs 19,000 crore project – Revamped Distribution Sector Scheme which excludes agricultural connections. The Union Government has offered a subsidy of Rs 900 per meter.
The Adani Group emerged as the lowest bidder for the package -1 of the project, involving 82 lakh smart meters in 8 districts including Chennai. The tenders floated for three other packages also stand cancelled.
Meanwhile, Arappor Iyakkam has called for a demonstration on January 5 in Chennai to highlight the corruption in the TN Electricity Board and Adani Groups’ ‘involvement’. The anti corruption watchdog is spearheading a campaign to register an FIR in the coal import scam.
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