January 2016, Business
Hindustan Zinc Ltd. (HZL) will invest Rs.8,000 crore in the next 3-5 years as the Vedanta Group firm looks to expand operations and capacity.
The firm aims to take the existing ore production levels of 9.36 million tonnes per annum (MTPA) to 14 MTPA and finished metal production to 1.10 MTPA from 0.85 MTPA, Hindustan Zinc said in a statement.
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.”
HZL, which is celebrating 50 years of existence in 2016, has mines located in Agucha, Sindesar Khurd, Zawar, Rajpura Dariba, and Kayad in Rajasthan. Its smelters are located in Dariba, Chanderiya and Debari, also in Rajasthan. It was formed under an Act of Parliament on January 10, 1966 as an integrated zinc-lead-silver producing company.
In 2002, under the government’s disinvestment programme, Hindustan Zinc was acquired by Sterlite, now called Vedanta Ltd.