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Farmers May Bear The Brunt As Coimbatore-Based Pumpset Manufacturers Feel The Heat Of Sterlite Closure
CRI Pumps’ factory in Coimbatore (CRI Group)
The closure of Vedanta’s Sterlite plant in Tuticorin in Tamil Nadu has thrown the pumpset manufacturing industry that predominantly operates out of Coimbatore, reports The New Indian Express.
Pumpsets from Coimbatore cater to anywhere between 50 per cent to 65 per cent of the total requirements in India. Over 150 different models of varying output – from 0.5 hp to 500 hp – are manufactured in the city.
Copper forms an important part of the manufacturing process. According to South India Engineering Manufacturers Association (SIEMA) president KK Rajan, copper forms around 70 per cent of the raw material required in the manufacturing process.
Besides Vedanta’s Sterlite plant, copper is produced by the Birla Group’s Hindalco and state run-Hindustan Copper. India exports copper to other nations including China, Saudi Arabia and Oman. Prior to the plants closure, Sterlite enjoyed 37 per cent of the market share.
It remains to be seen how bad the agriculture industry is impacted by the Sterlite plant’s closure.
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