Vedanta Group company Hindustan Zinc plans to double its production capacity to 2 million tonnes in the next few years. For this the company will invest two billion dollars or about Rs 17,000 crore. The company's Chief Executive Officer (CEO) Arun Mishra gave this information. Mishra told PTI that the company has already hired consultants to expand its capacity and is now looking for mining partners. Mishra said, “We have plans to increase our production capacity to 20 lakh tonnes. So I am sure by the end of this quarter we will be able to announce the project. It will be decided where and how much production will be increased in which project.
The target is to have a production capacity of 12 lakh tonnes.
Mishra said that the company is targeting a production capacity of 12 lakh tonnes in 2025. The target is to achieve a production capacity of 13.5 lakh tonnes in 2026 and 18 lakh tonnes in 2027. He said that at some point after this we will reach 20 lakh tonnes. Asked about the investment to be made by the company to increase production capacity, he said, “Since most of the mining infrastructure is ready, it will be between $1.95 to two billion.” We will require roughly Rs 14,000 crore to Rs 17,000 crore for this.
Government is also working on disinvestment of Hindustan Zinc
On the company's restructuring plans, he said discussions are going on and stakeholders are talking regularly. He further said that since the government is also working on the disinvestment of Hindustan Zinc, we are also dependent on it. Hindustan Zinc is the world's second largest integrated zinc producer and third largest silver producer. The company supplies to more than 40 countries and holds a market share of about 75 percent in the primary zinc market in India. The company had announced its September quarter results on Friday. The company's consolidated net profit during the quarter increased by 34.5 per cent to Rs 2,327 crore. The company had earned a net profit of Rs 1,729 crore in the same quarter a year ago. The company's income during the July-September period increased to Rs 8,522 crore from Rs 7,014 crore in the same quarter of the last financial year.
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