24 May 2018 14:05
Vedanta Resources plc
16 Berkeley Street
London W1J 8DZ
Tel: +44 (0) 20 7499 5900
Fax: +44 (0) 20 7491 8440
www.vedantaresources.com
24 May 2018
Vedanta Resources plc
Update on Tuticorin Smelter
Vedanta Resources plc's subsidiary Vedanta Limited today made the below announcement.
The Tamil Nadu Pollution Control Board (TNPCB) vide its order dated May 23, 2018 ordered disconnection of electricity supply and closure of the Company's 'Copper Smelter Plant 1 at Thoothukkudi District, Tamil Nadu' under provisions of Section 33A of the Water (Prevention and Control of Pollution) Act, 1974 and Section 31A of Air (Prevention and Control of Pollution) Act, 1971, with immediate effect. We would also like to inform that the plant was not operating since March 27, 2018.
We continue to work with the regulatory authorities, at all time ensuring compliance with the necessary regulations.
In terms of Regulation 30 of the SEBI Listing Regulations, please note that the said Copper Smelter has contributed ~Rs. 1,373 Crore i.e. ~5.4% of the consolidated EBIDTA during the last financial year 2017-18 and the carrying value of property, plant and equipment as at March 31, 2018 was ~Rs. 2,131 Crore i.e. ~2% of total assets.
For further information, please contact:
Communications | Finsbury |
Arun Arora Head, Corporate Communications Tel: +91 124 459 3000 gc@vedanta.co.in
| Daniela Fleischmann Tel: +44 20 7251 3801 |
Investors |
|
Rashmi Mohanty Director - Investor Relations
Sunila Martis Associate General Manager - Investor Relations
Veena Sankaran Manager - Investor Relations | Tel: +44 20 7659 4732 Tel: +91 22 6646 1531 ir@vedanta.co.in |
About Vedanta Resources
Vedanta Resources plc ("Vedanta") is a London listed diversified global natural resources company. The group produces aluminium, copper, zinc, lead, silver, iron ore, oil & gas and commercial energy. Vedanta has operations in India, Zambia, Namibia and South Africa. With an empowered talent pool globally, Vedanta places strong emphasis on partnering with all its stakeholders based on the core values of trust, sustainability, growth, entrepreneurship, integrity, respect and care. To access the Vedanta Sustainable Development Report 2017, please visit http://www.vedantaresources.com/media/214366/vedanta_sd_report_2016-17.pdf. For more information on Vedanta Resources, please visit www.vedantaresources.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.