Kutch Copper, a subsidiary of Adani Enterprises, is constructing a greenfield copper refinery project to produce one MTPA (million tonnes per annum) in two phases.

The company’s financial settlement for the first phase is Rs 6,071 crore. The project’s first phase will have a 0.5 MTPA capacity in Mundra, Gujarat. KCL has signed financing documents with a consortium led by the State Bank of India (SBI).

The other consortium members are Bank of Baroda, Canara Bank, Exim Bank of India, Indian Bank, Punjab National Bank and Bank of Maharashtra.

According to a company statement, the consortium has approved and signed the agreement for the entire debt requirement of Rs 6,071 crore for the project’s first phase.