Hindustan Zinc Limited the leading manufacturer of Zinc in India, is all set to expand its facilities and take a lead in the global market as well. On Wednesday, the company announced to have signed a memorandum of understanding with Gujarat Government for the greenfield project of a Zinc smelter plant. The MoU worth INR 100000 million targets the set-up of 300 KTPA Zinc Smelter in Doswada, South Gujarat which is expected to advance the industrial and economic development of state. As per the company, the smelter will function on new generation zero discharge technology, making it among the lowest cost smelters around the world.
Since the smelter will produce several other metals and biproducts like Sulphuric Acid, the facility is perceived to function in close proximity to various downstream and ancillary industries. On planned execution of all operations, the first phase of the smelter project is likely to be completed by 2022. According to the State Government of Gujarat, the MoU with Hindustan Zinc is one of the largest investments signed under new industrial policies, that envisions to provide additional benefits to all those companies investing in rural backward districts.
In support of the agreement, the founder of Vedanta group commented that with a plant in the industrial hub of the country Hindustan Zinc is positioning to become one of the leading Zinc producers in the world in line with the government’s ‘Atmanirbhar Bharat’ initiative.