Adani to Boost Domestic Copper Production Through Metube India Partnership.

Adani Enterprises Ltd (AEL) announced on Thursday a strategic partnership with MetTube Copper India Pvt Ltd, a subsidiary of the global Metdist Group, to co-develop and operate a future-ready copper tube business in India. This collaboration involves a unique dual investment structure designed to ensure equal ownership and shared governance, aligning with India's goals for enhanced energy efficiency and reduced carbon emissions.

Under the terms of the agreement, AEL will divest a 50% stake in its wholly-owned subsidiary, Kutch Copper Tubes Ltd, to MetTube. Simultaneously, Adani Enterprises will acquire a 50% stake in MetTube Copper India Private Ltd. MetTube Copper India currently operates a manufacturing facility near Ahmedabad, Gujarat.

The official release from AEL stated that this "dual investment structure ensures equal ownership and shared governance, enabling the entities to co-create a future-ready copper tube business, keeping in mind India’s vision of improving energy efficiency and reducing carbon emissions."

The deal was formalized through a share purchase and shareholders agreement entered into by Adani Enterprises and MetTube Mauritius Private Ltd. This move signifies Adani's continued strategic focus on key industrial sectors while also emphasizing sustainable development and contributing to India's green energy initiatives.