CORPORATE
Hindustan Zinc eyes $2-billion investment to double capacity to 2 mt
- IBJ Bureau
- Oct 28, 2024
Vedanta Group company Hindustan Zinc (HZL) plans to pump in up to $2 billion (around Rs 17,000 crore) to double its production capacity to 2 million tonnes (mt) in the next few years, its CEO Arun Misra has said.
The company which had already engaged consultants to ramp up its capacity is looking for mining partners.
“We have a plan of doubling the production to 2 million tonnes. So, I am sure (that) by the end of this quarter, we should be able to make project announcements, which projects, how much and where it is happening,” he explained.
The company is targeting a production capacity of 1.2 mt in 2025, followed by 1.35 mt in 2026 and 1.8 mt in 2027, Mr Misra has added.
“And then finally, sometime, we should be able to get 2 million tonnes,” he notes.
When asked about investment plans, he says: “Because most of the mining infrastructure is in place, so, it is anywhere between $2 billion or $1.95 billion, roughly about, say, Rs 14,000 crore to Rs 17,000 crore is the kind of money that will be required.”
Mr Misra has further said that as the government is also working on the disinvestment of Hindustan Zinc, there is a dependence on that as well.
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