WCA November 2016

India

Insight

India’s new source of domestic copper

“So, we do have industrial activities normally on a JV basis, where we team up our competency, which is the supply of raw materials and our financing capacity together with somebody who has complementary industrial skills. “This is the case with Polycab, whereby we have the sourcing capability, the raw material and the financing capability and they have the manufacturing know-how. For us, this JV is a very complementary fit.” Trafigura – Netherlands Polycab Wires – India Website : www.trafigura.com Website : www.polycab.com Tell us YOUR news. . . To submit news for the India Insight section free of charge, email david@intras.co.uk or call direct on +44 1926 334137.

DUTCH multinational Trafigura is to establish a copper wire rod manufacturing facility in India in partnership with Polycab Wires. The joint venture, in Halol, Gujarat, is expected to be operational by the end of 2017. It is the first base metal manufacturing investment by Trafigura in the Indian sub-continent and is planned to meet the rising demand for copper wire rods by construction, power, transport and telecom industries. The entire production will be sold domestically. The Indian copper wire rod market is worth $3 billion and is expected to grow 12 per cent year-on-year. “Though our core competence is trading and moving commodities like oil, minerals and metals across global geographies, we hold just under 25 per cent of Nyrstar, a Belgian-listed zinc smelting and mining company, and we recently purchased 30 per cent equity in Jinchuan, China’s largest nickel producer,” said Jeremy Weir, CEO, Trafigura.

Bigstockphoto.com “Taj Mahal sunset silhouette in Agra, India” Photographer: David Evison

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