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Wed, Sep 19, 2018 | Last Updated 7:22 am IST

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Sterlite Plant's Closure left many SSI in retrenchment

Sterlite Plant's Closure left many SSI in retrenchment
Sterlite Plant's Closure left many SSI in retrenchment
http://apherald-nkywabj.stackpathdns.com/images/appleiconAPH72x72.png apherald.com

Chennai sources reported that as the heat and dust over the closure of Vedanta’s Copper smelting plant in Thoothukudi is yet to settle down even after the state government ordered its closure two months ago, the Copper Consumers Association of South India (CCASI) say their industries are getting choked up due to lack of supply of raw material.



Meanwhile the Sterlite plant’s closure has added to their woes in not meeting the requirements of consumers and has thinned down the workforce in many small scale industrial units in the form of retrenchment. Accordingly the association has demanded the government to ensure alternate source of procuring the raw material copper, and thereby help about 50,000 industries in India to survive.

Sterlite Plant

Moreover the Winding Wires Manufacturers Association of India president Sudhir Kumar Agarwal has claimed that the sudden closure of Sterlite’s copper plant has resulted in huge loss to winding wire industry and impacting the production of all electrical and electronic equipment. Furthermore he added if the closure continues, the industry will be forced to import copper at an additional cost of about 5% more than domestic prices, resulting in cascading effect for the ultimate user and can be highly inflationary.

Sterlite Plant

Sterlite Plant's Closure left many SSI in retrenchment
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