Hindustan Zinc has plans to invest Rs 1,000 crore to set up two more zinc fumer plants over the next two to three years.
One of the lowest-cost zinc producers in the world, the Vedanta Resources Plc subsidiary said it has invested Rs 570 crore in its first zinc fumer plant at Chanderiya Hydro-II plant in Rajasthan. The facility is expected to start by mid-2018.
With estimates pointing out that Hindustan Zinc is losing about 27,000 tonnes of metal per year in this waste, the zinc fumer plants, which are meant for extracting metal from waste, are expected to be of great help to the company.
“We will be funding the other two fumer plants through our internal accruals at Hydro-I in Chanderiya smelting complex and in Rajsamand at Dariba smelting complex,” Business Standard quoted Sunil Duggal, chief executive at Hindustan Zinc, as saying