Indian Electrical & Electronics Manufacturers’ Association (IEEMA) has urged Tamil Nadu Government to work out a solution for restarting operations at Sterlite‘s Copper plant in Tuticorin. IEEMA said that Copper is a major material used by various players in the electrical equipment industry, and the plant, when running, used to cater around 35-40% of India’s total Copper requirement.
Mr. Anil Saboo, President IEEMA in a press statement said “The electrical equipment industry is suffering a lot because of it. Prices of Copper have risen by 30-40 per cent in the last few months and fixed-rate contracts of electrical equipment makers with government or private are being affected. It has affected their cash flow also and their profitable orders are converting into losses”.