‘Privatising HZL boosted zinc production, creating new opportunities’

Jaipur: Vedanta Group Chairman Anil Agarwal on Thursday said privatising Hindustan Zinc over two decades ago significantly boosted zinc production and new opportunities were created.

According to a release, Hindustan Zinc Ltd, a Vedanta Group company, achieved a historic milestone by becoming the world’s largest integrated zinc producer.

“23 years ago, a new era began. Zinc was in high demand, but India had low production and a huge import duty of 40%. In 2002, the government made a bold move by privatizing @Hindustan_Zinc and gave us a chance,” Agarwal said in a post on X.

“Within a year, without a single retrenchment, profits grew by 113%. Today, @Hindustan_Zinc is the world’s largest integrated zinc producer. Thanks to the focused efforts of our experts and engineers, silver production in India has grown 15x,” he said.