New Delhi: Vedanta Group firm Hindustan Zinc plans to pump in up to $2 billion (around Rs 17,000 crore) to double its production capacity to 2 million tonnes in the next few years, its CEO Arun Misra said. The company which had already engaged consultants to ramp up its capacity is looking for mining partners for the same, Misra said.
“We have a plan of doubling the production to 2 million tonnes… So, I am sure 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 targetting a production capacity of 1.2 million tonnes (MT) in 2025, followed by 1.35 MT in 2026 and 1.8 MT in 2027, Misra said. “And then finally, sometime, we should be able to get 2 million tonnes,” he explained.
When asked about the investment the company plans to make to increase production capacity, he said, “Because most of the mining infrastructure is in place, so, it is anywhere between 2 billion dollars or 1.95 or 2 billion dollars, roughly about, say, Rs 14,000 crore to Rs 17,000 crore is the kind of money that will be required.”
He further said that as the government is also working on the disinvestment of HZL so, there is a dependence on that as well.