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Bangalore-based Gopalan Enterprises has launched Gopalan Metals (India) Private Ltd, a copper manufacturing facility in Hoskote industrial area, Bengaluru. The copper manufacturing facility has an annual production capacity of 6,000 metric tonnes. Currently, the company is looking at a projected capacity of 3,000 mt and revenue of ₹270 crore for FY25 from domestic and international markets
C Prabhakar, Director, Gopalan Enterprises, said, “India’s copper consumption is 1.5 million tonnes a year and is expected to cross 2 million tonnes by 2030. The demand for copper products has grown enormously due to new age technology development, electrification of transport systems and the push for renewable energy. Copper is 100 per cent recyclable, making it a crucial component for renewable energy technologies. The market demand is bound to continue to surge.”
The facility will produce various types of copper rods, flats and wires to cater to industries such as cable, transformer, automobile, electronics, solar energy and railways. By the end of 2024, it will also manufacture domestic cables.
Self sufficiency
Gopalan Metals aims to help cut India’s dependence on imports, address supply challenges, and aid clean energy transition for businesses, in the face of the rising cost of copper.
“Currently, India imports nearly 30 per cent of its copper requirement. At Gopalan Metals, we are determined to reduce the country’s reliance of copper imports and become more self-sufficient,” he added.
A company statement also indicated that its outlook for the copper market remains positive, despite geopolitical factors contributing to price volatility. As one of the oldest metals in common use, copper continues to be the most cost-effective electrical and heat conductor, not to mention the metal’s malleability and ductility, making it the preferred choice among wide-ranging businesses, it stated.
Inputs from BL intern Vidushi Nautiyal
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