Hindustan Zinc to spend $1 bn on ending diesel use
POWER & RENEWABLE ENERGY

Hindustan Zinc to spend $1 bn on ending diesel use

Vedanta Group firm Hindustan Zinc Ltd (HZL), the world's second-largest manufacturer of the metal, plans to invest over $1 billion (Rs 82.70 billion) to switch from diesel-fired mining vehicles to battery-operated ones and also to fully turn into a green energy user over the next five years.

The Udaipur-based company, which is also the sole producer of silver and the largest maker of zinc and lead in the country, is currently running four of its 900 mining vehicles on battery on a pilot basis.

The company, with an annual production of 1 million tonnes zinc, up from 100,000 tonnes when it was privatised in 2002, also expects stable demand in the March quarter despite the growing fears of a global recession, its chief executive Arun Misra said at the weekend.

The government still owns 29% of the cash-rich HZL and has three members on the board. On this, Misra said he recently met government officials in New Delhi and full divestment may happen soon.

On the commitment to be net carbon-zero by 2050, he said the company has signed a power purchase agreement for sourcing up to 200 MW renewable energy, which will avoid 1.2 million tonne of carbon emission.

See also:
Govt intends to sell 6 mineral blocks in Rajasthan and Odisha next month
Invenire Energy to invest $500 mn in Andhra CBM block


Vedanta Group firm Hindustan Zinc Ltd (HZL), the world's second-largest manufacturer of the metal, plans to invest over $1 billion (Rs 82.70 billion) to switch from diesel-fired mining vehicles to battery-operated ones and also to fully turn into a green energy user over the next five years. The Udaipur-based company, which is also the sole producer of silver and the largest maker of zinc and lead in the country, is currently running four of its 900 mining vehicles on battery on a pilot basis. The company, with an annual production of 1 million tonnes zinc, up from 100,000 tonnes when it was privatised in 2002, also expects stable demand in the March quarter despite the growing fears of a global recession, its chief executive Arun Misra said at the weekend. The government still owns 29% of the cash-rich HZL and has three members on the board. On this, Misra said he recently met government officials in New Delhi and full divestment may happen soon. On the commitment to be net carbon-zero by 2050, he said the company has signed a power purchase agreement for sourcing up to 200 MW renewable energy, which will avoid 1.2 million tonne of carbon emission. See also: Govt intends to sell 6 mineral blocks in Rajasthan and Odisha next monthInvenire Energy to invest $500 mn in Andhra CBM block

Related Stories

Gold Stories

Next Story
Real Estate

L&T Wins Mega Order for India’s Largest NVIDIA B300 AI Factory

Larsen & Toubro (L&T), through Vyoma.AI’s AI infrastructure subsidiary LTN Compute, has secured a mega order to develop what the company describes as India’s largest single-cluster AI infrastructure facility. The NVIDIA B300 AI Factory will support US-based AI cloud company Together AI’s platform for large-scale inference, fine-tuning and training workloads.The integrated AI Factory will be hosted at Vyoma.AI’s Chennai data centre campus and will have a capacity of 10,000 NVIDIA B300 GPUs. The platform will combine hyperscale data centre infrastructure, accelerated computing, h..

Next Story
Infrastructure Urban

Autodesk Elevates Nikhil Bagalkotkar to Lead AEC in India, SAARC

Autodesk has elevated Nikhil Bagalkotkar as Head – Architecture, Engineering and Construction (AEC), India and SAARC, with immediate effect.In his new role, Bagalkotkar will lead Autodesk's AEC business strategy across the region and drive adoption of the company's Design and Make platform. He will also focus on promoting digital design and construction technologies to help customers accelerate innovation and deliver more sustainable and resilient infrastructure.Bagalkotkar will be responsible for expanding Autodesk's AEC business, strengthening customer and partner engagement, and accelerat..

Next Story
Real Estate

Listed Developers' Pre-Sales Seen Rising 22.3 Per Cent in FY27

India's leading listed residential developers are expected to sustain strong sales momentum in FY27, with combined pre-sales of 11 major players projected to rise 22.3 per cent year-on-year, according to an analysis by ANAROCK Research & Advisory.Combined pre-sales of the developers are estimated to increase from Rs 1.49 trillion in FY26 to Rs 1.82 lakh crore in FY27. ANAROCK attributed the growth to sustained end-user demand, new project launches and strong execution despite higher property prices, construction costs and global uncertainties.Dr Prashant Thakur, Executive Director and Head..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement