Shares of the multinational mining company Vedanta tanked nearly 12 percent to their fresh 52-week low to Rs R221.8 today after the firm invited expression of Interest (EoI) for its Tuticorin-based smelter, which has been shut since mid-2018, following a Tamil Nadu government order. The plant has been shut since May 2018 after a police firing killed 13 people during a protest against environmental pollution allegedly caused by the plant. The last day to submit EoI is July 4, and the bids have been invited in conjunction with Axis Capital. Plant units, including oxygen generation facility as well as residential homes, are also part of the sale offer. The plant has faced closures over alleged violations of environmental norms, as per the advertisement."Interested and financially competent parties shall submit an expression of interest along with a company profile and other relevant credentials latest by 1800 hours, 4th July 2022," Vedanta said in a newspaper advertisement on Monday.
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