Vedanta Limited has informed the Exchange regarding 'Intimation Under Regulation 30(9) Of The Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015'.
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Vedanta's subsidiary Hindustan Zinc Limited (HZL) has received board approval to set up a new 250 KT per annum integrated zinc smelter at Debari, along with matching mines and milling capacity expansion. The total project cost is approximately Rs. 12,000 crores, with a targeted completion timeline of 36 months. This is the first phase of HZL's '2X growth plan' aimed at doubling its zinc, lead, and silver capacity over the longer term. Post Phase I, total smelting capacity will rise to 1,379 KT from 1,129 KT currently, and silver refining will increase to 830 TPA from 800 TPA. Full 2X expansion targets 2,000 KT smelting, 1,500 TPA silver, and 35 MTPA ore production. Management cited strong domestic and global demand for zinc, driven by infrastructure growth, steel production scaling to 300 MTPA by 2030, and energy transition needs.
Positive for Vedanta shareholders as it signals significant growth pipeline through its key subsidiary HZL. The Rs. 12,000 crore capex represents a major investment that should boost future revenues and EBITDA, though it may pressure near-term free cash flows and increase debt during the 36-month execution period.