The Hindu Business Line : Hind Zinc chalks out Rs 1,500-cr investment

New Delhi, July 9 Hindustan Zinc Ltd (HZL), a major producer of zinc and lead in the country, expects its zinc production capacity to touch 6.71 lakh tonnes by the end of the current fiscal. Currently, the company has a zinc production capacity of 4 lakh tonnes.

Speaking to reporters here on Monday, Mr M.S. Mehta, Chief Executive Officer and whole-time director, Hindustan Zinc Ltd, said, “The company at present has a total zinc production capacity of 4 lakh tonnes of which around 3.5 lakh tonnes were utilised last year. By the end of the fiscal we expect the production level to touch 6.71 lakh tonnes and we should be able to utilise around 5 lakh tonnes.”

Hindustan Zinc is part of Vedanta Resources, a London listed metals and mining major with aluminium, copper and zinc operations in Britain, India and Australia.

According to Mr Mehta after a sluggish season last year, the sector is expected to be buoyant both in the domestic as well as the international markets and the industry is expected to grow between 9 and 12 per cent annually over the next three to four years.

Increasing exports

HZL is also looking at increasing its exports from 1.50 lakh tonnes last fiscal to around 2 lakh tonnes during the current financial year.

The company which had invested around Rs 2,800 crore in various projects in the last couple of years is looking at investing Rs 1,500 crore during the current financial year.

“Apart from increasing the zinc production we are building two 80 MW power plants in our Chanderiya mines in Rajasthan. One of them should be ready by end of the current fiscal and the other will be ready early next fiscal,” Mr Mehta said. HZL is also increasing its smelter capacity from the current 3.6 lakh tonnes to 6 lakh tonnes during the current financial year.

Enthusiastic about the New Mineral Policy approved by the Group of Ministers, Mr Mehta said that HZL was open to acquiring mines overseas as and when required.

Award

The company was conferred the Social Awareness Award today by the Federation of Indian Mineral Industries (FIMI) for its Corporate Social Responsibility (CSR) around Rajpura-Dariba mines.

Mr Mehta said a number of projects were being implemented as part of its CSR including developing model villages, mid-day meal programmes and introducing computer education for 200 rural secondary schools in four districts in Rajasthan, which would benefit about 2,000 children.