Key Highlights
- Hindustan Zinc commits ₹12,000 cr to double zinc, lead, silver output via new Debari smelter.
- Integrated 250 KTPA smelter in Udaipur to be operational in three years, funded by accruals and debt.
Hindustan Zinc Limited (HZL) plans to double its capacity in the zinc, lead, and silver verticals with an investment of around Rs 12,000 crore, according to a filing with the Bombay Stock Exchange (BSE). The decision was made during HZL's board meeting on Tuesday.
Hindustan Zinc plans to build a 250 ktpa (kilo tonne per annum) integrated smelter in Debari, Rajasthan, as well as mines and expansion across the mines.The project is set to be completed in 36 months.
In a statement, HZL CEO Arun Misra stated that the plan is "strategically aligned with the country's expanding economic landscape."
Also Read: Hindustan Zinc's Stock Rises 2% After Chosen as the Bidder for Rajasthan Project
"We are excited to announce this 2x growth project towards doubling our capacity across zinc, lead and silver, which is strategically aligned with the country's expanding economic landscape, increasing demand Opportunities, and keeping the country self-reliant for zinc," said Misra, according to the news agency PTI.
Hindustan Zinc is the world's largest integrated zinc producer and one of the top five silver producers globally. The company supplies more than 40 countries and accounts for approximately 77 percent of the metal's primary market in India.
The Vedanta-owned firm reported a consolidated net profit of Rs 3,003 crore for the March quarter, up 47.3% from Rs 2,038 crore the previous year. The company's revenue in the latest January-March quarter increased to Rs 9,314 crore from Rs 7,822 crore in the previous year's period.
