A prominent Bengaluru based Residential developer, Gopalan Enterprises has inaugurated Gopal Metal, a copper manufacturing unit in Hoskote industrial locality in Bengaluru. The facility has a production capacity of 6,000 MT – million tonne annually.
The company currently anticipates revenue of Rs. 270 crore for FY25 from domestic and international business, with a projected capacity of 3,000 MT. The facility will deliver different sorts of copper rods, pads and wires which would serve portions like cable, transformer, car, gadgets and solar oriented energy and railways.
It will also manufacture domestic cables by the end of 2024. Gopalan Metals aims to ease India’s reliance on imports, address supply issues, and support the transition to clean energy.
Copper is an essential component for technologies that use renewable energy because it can be recycled in its entirety.
Regarding this new unwavering launch, C Prabhakar, Director, Gopalan Enterprises, says, “India’s copper consumption is 1.5 mt a year and is expected to cross 2 mt 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”.
“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”, Prabhakar added.
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