Tuticorin, May 28 (Agencies): Vedanta group's Sterlite copper plant in Tuticorin has been ordered to be permanently shut by the Tamil Nadu government.
Large-scale violence on May 22 against the Sterlite copper plant here and police firing led to the death of 12 persons and the next day saw one more youth succumbing to injuries sustained in police firing.
Tamil Nadu deputy Chief Minister O. Panneerselvam on Monday asserted that the government will take resolute steps for the permanent closure of Vedanta group’s Sterlite copper plant in Thoothukudi.
“Today, the main demand of the people is that the copper plant should be permanently closed. In keeping with their demand, it is shut now. I would like to make it clear that Sterlite plant will be permanently shut,” Panneerselvam said.
In a recent interview, Anil Agarwal, chairman, Vedanta Resources, alluded to vested interests behind the tragic events. "It is unfortunate what happened about 5 km away from our plants. When we had the information that something like this was being planned for the 22nd, we reached out to the court and the court was quick to inform the local administration for it to be prepared… and section 144 was imposed," he said.
He also said false propaganda led to the protests which led to 13 deaths. "Vedanta as a responsible corporate citizen and on humanitarian grounds, we will extend all possible support to families of the deceased and severely injured. The basic premise of the protest was unfortunate, as the plant was non-operational, awaiting Consent to Operate from TNPCB."
Sterlite Copper is a unit of Vedanta Ltd which operates a 400,000-tonne per annum capacity plant here.
With the return of normalcy, prohibitory orders were relaxed and the internet services have also been restored fully.
This spells bad news for Vedanta investors, further putting downward pressure on a stock that’s fallen 25% since the start of this year.