Sterlite closure brings down several companies due to the absence of raw materials

Sterlite Factory Closure

The Sterlite copper smelter in Thoothukudi which was operated by the Vedanta Resources used to source raw materials to chemical manufacturers and representative association. They all want the reopening of the plant after the Sterlite closure, complaining of ailing businesses with two factories that have already shut down operations, and also increased raw material prices. Along with this loss of jobs is also an integral point.

The members of the Chemical Industries Association have always said that the closure of the Sterlite smelter since April has impacted as many as 29 companies directly and as much as around 150 indirectly. Ila Nahai, who is the president of the CIA, has said that, “The turnover of the companies had already been affected by the smelter’s closure in the past three months.” He has added that the State and the Centre should take remedial measures to reopen it and save companies from impending losses and further shut downs.

Recently, a delegation of contractors and labourers associated with Sterlite Copper have submitted a petition to Thoothukudi collector Sandeep Nanduri after meeting the state information and publicity minister Kadambur Raju. He has said that the state government is making alternative arrangements for the people who have lost their jobs. R Harihara Gopalan, who is the executive director of Shree Annam Chemicals, which manufactures animal feed supplements, said the disruption in supply of phosphoric acid had impacted his company and others in the same sector.

 

Related Articles

PM Modi’s Ambitious Mega Health Insuran... The pilot trial of the ambitious health insurance scheme began in the selected districts on Wednesday. The Prime Minister mentioned about the same in ...
Google’s AI Spots 50 Eye Diseases As Accurate... As per the reports, Deepmind’s AI can detect the severe troubles with the retina and it can help the doctors to speed up the diagnosis of the eye dise...
Man Crashes Plane Into His Own House After Fi... A man in Utah was killed after he crashed a stolen plane into his own house. He was released that day after being convicted of exercising violence aga...
Rain Continues To Haunt Kerala, Red Alert Iss... Due to heavy down pouring in the state of Kerala, the southern districts of the state are on an orange alert, especially Kollam and Thiruvananthapuram...

Be the first to comment on "Sterlite closure brings down several companies due to the absence of raw materials"

Leave a comment

Your email address will not be published.


*