Hindustan Zinc Limited approves plans for expansion

As part of 2x growth plan, Hindustan Zinc Limited Board has approved plans for expanding its integrated refined metal capacity by 250 ktpa along with matching mines & mills capacity with an investment of c. ₹12,000 crores.

Hindustan Zinc Limited ("HZL" or "the Company" or "Company") has announced today that as part of doubling the capacity of zinc, lead and silver, the Board of Directors of HZL has today approved the initial plans for capacity expansion. This expansion aligns with the strong growth in demand both in India and globally over the next five years. The Board has approved the project for setting up new 250 ktpa integrated smelter at Debari along with mines & mills expansion across the mines. The project is targeted to be completed in a period of 36 months with an overall cost of c. ₹12,000 crores.

Commenting on the development, HZL's Chief Executive Officer Mr. Arun Misra said: "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 country self-reliant for Zinc. By closely matching the pace of national growth, we are confident that this will create significant value for our stakeholders and drive long-term success."

Shares of Hindustan Zinc Limited was last trading in BSE at Rs. 486.40 as compared to the previous close of Rs. 513.05. The total number of shares traded during the day was 735274 in over 18045 trades.

The stock hit an intraday high of Rs. 506.50 and intraday low of 483.20. The net turnover during the day was Rs. 363391105.00.

Source : Equity Bulls

Keywords

HindustanZinc INE267A01025 ExpansionPlan