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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-Bhasha that the company has already appointed consultants to increase its capacity and is now looking for mining partners. Mishra said, “We have a plan to increase our production capacity to 2 million tonnes. So I am sure that 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 the company is targeting a production capacity of 1.2 million tonnes in 2025. The target is to achieve a production capacity of 1.35 million tonnes in 2026 and 1.8 million tonnes in 2027. He said that at some point after this we will reach 2 million tonnes. When 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 and $2 billion. We will roughly need around Rs 14,000 crore to Rs 17,000 crore for this.
The government is also working on the 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 also have a dependence 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 has a market share of about 75 percent in the primary zinc market in India. The company announced its September quarter results on Friday. During the quarter, the company’s integrated net profit increased by 34.5 percent to Rs 2,327 crore. The company had earned a net profit of Rs 1,729 crore in the same quarter a year ago. In the July-September period, the company’s income increased to Rs 8,522 crore from Rs 7,014 crore in the same quarter of the previous financial year.
