|
PNN
Mumbai (Maharashtra) [India], June 23: Shera Energy Limited (NSE Code: SHERA), a prominent manufacturer of winding wires and strips made of non-ferrous metals, announced a significant milestone in its international growth strategy with the acquisition of a running copper cathode manufacturing plant in Zambia. The acquisition, executed through its foreign material subsidiary Shera Zambia Limited, marks a major step forward in Shera's long-term vision of securing reliable raw material sourcing and expanding its global footprint. Located in Zambia's resource-rich Copperbelt region near the Democratic Republic of Congo, the plant will produce 99.99% pure copper cathodes from locally sourced copper oxide ores, helping the Company to substantially reduce procurement costs and enhance operational efficiency. With an initial production capacity of 1,200 metric tonnes per annum in FY 2025-26, the Company plans to scale up to 5,000 metric tonnes in the coming years. This initiative aligns with Shera's broader strategy of backward integration and insulating its business model from commodity price fluctuations. Commenting on the, Naseem Shaikh, Chairman and Managing Director, Shera Energy Limited said, "This strategic acquisition is a major milestone in our international journey. By establishing a direct source of high-purity copper cathodes, we not only enhance our supply chain resilience but also reinforce our commitment to cost-effective and sustainable operations. This development ensures long-term access to critical raw material and reinforces our ability to deliver consistently higher margins. Our Zambia operations, though capital-light initially, are expected to yield substantial returns. This will also support our growing domestic and export operations, including our entry into new verticals like cables and conductors. The future of Shera Energy is global, and this is a vital first step." The company has also stated that it is actively exploring further investments in Shera Zambia Limited to strengthen its manufacturing capacities and international presence. This expansion aligns with Shera Energy's broader vision of securing long-term raw material access and driving sustainable growth across global markets. (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
|
