Hindustan Zinc to invest up to $2 billion to double production capacity: CEO

Vedanta Group steadfast Hindustan Zinc plans to pump successful up to $2 cardinal (around Rs 17,000 crore) to treble its accumulation capableness to 2 cardinal tonnes successful the adjacent fewer years, its CEO Arun Misra said.

The institution which had already engaged consultants to ramp up its capableness is looking for mining partners for the same, Misra told PTI. "We person a program of doubling the accumulation to 2 cardinal tonnes… So, I americium definite by the extremity of this quarter, we should beryllium capable to marque task announcements, which projects, however overmuch and wherever it is happening." helium explained.

The institution is targetting a accumulation capableness of 1.2 cardinal tonnes (MT) successful 2025, followed by 1.35 MT successful 2026 and 1.8 MT successful 2027, Misra said. "And past finally, sometime, we should beryllium capable to get 2 cardinal tonnes," helium explained.

When asked astir the concern the institution plans to marque to summation accumulation capacity, helium said, "Because astir of the mining infrastructure is successful place, so, it is anyplace betwixt 2 cardinal dollars oregon 1.95 oregon 2 cardinal dollars, astir about, say, Rs 14,000 crore to Rs 17,000 crore is the benignant of wealth that volition beryllium required."

On the company's restructuring plans, helium said that the discussions are connected and the stakeholders are talking regularly. He further said that arsenic the authorities is besides moving connected the disinvestment of Hindustan Zinc so, determination is simply a dependence connected that arsenic well. "So, 1 of them volition happen," helium explained.

Hindustan Zinc is the world's second-largest integrated zinc shaper and the third-largest metallic producer. The institution supplies to much than 40 countries and holds a marketplace stock of astir 75 per cent of the superior zinc marketplace successful India.

The institution connected Friday reported a 34.5 per cent emergence successful consolidated nett net to Rs 2,327 crore for the 4th ended September 30, 2024, connected the backmost of higher income.

The institution had posted a nett net of Rs 1,729 crore successful the year-ago period. The income successful the July-September play roseate to Rs 8,522 crore from Rs 7,014 crore successful the corresponding 4th of the erstwhile fiscal.

The institution earned a gross of Rs 6,403 crore from zinc, pb and different segments and Rs 1,550 crore from metallic vertical successful the 2nd quarter.