Vedanta Group’s subsidiary Hindustan Zinc (HZL) is set to boost production of its ore and finished metal with an investment of Rs80bn ($1.19bn) over the next three to five years.
As part of its plans, the company aims to increase the current ore production of 9.36 million tonne (Mt) to 14Mt.
Production of the existing finished metal would increase to 1.10Mt from 0.85Mt.
Vedanta Group chairman Anil Agarwal said: "When we acquired HZL as part of government’s disinvestment programme in 2002, our focus was to make India self-sufficient in zinc.
"We are very proud that by adopting latest environment friendly technology, large investment in capacity expansions and continuous exploration, HZL is able to increase production five-fold and yet have reserves for another 30 years."
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HZL CEO Sunil Duggal said: "We are still exploring the new areas where zinc could add value to consumers and also add in the GDP of the country."
Hindustan Zinc was sold by the Indian Government in 2001 as part of the government’s disinvestment programme and was acquired by Sterlite Opportunities and Ventures (SOVL), now called Vedanta, in April 2002.
Following the acquisition, SOVL’s stake in HZL increased to 64.92% and the government’s stake stands at 29.54%.
HZL has mines in Agucha, Sindesar Khurd, Zawar, Rajpura Dariba, and Kayad, and smelters in Dariba, Chanderiya and Debari, all in the Indian state of Rajasthan.
Image: HZL’s Chanderiya Smelting Complex in Rajasthan. Photo: © Hindustan Zinc Ltd.
