MoneyWorks4Me

Hindustan Zinc planning to invest $1 billion to replace diesel vehicles with battery electric vehicles

30 Jul 2021 Evaluate

Hindustan Zinc is planning to invest $1 billion (around Rs 7,440 crore) to replace diesel-run vehicles and equipment with battery electric vehicles across its eight mines in the next five years. The company, which has signed an agreement with Finnish technology firm Normet Group Oy to introduce front line battery-powered service equipment in underground mining, will deploy three of Normet SmartDrive EVs - a 'Spraymec', an 'Agitator', and a 'Charmec' - in their underground mines, in the first phase.

The company have a timeline of next five years of replacing all current equipment as and when the replacements are due. Then they will be replaced by battery-operated equipment so that in five to six years mines will be free from diesel-operated equipment.

Hindustan Zinc, the world’s second biggest zinc producer, operates the world’s third largest open-pit mine, and world’s largest Zinc Mine in Rampura Agucha, Rajasthan.

Peers
Company Name CMP
Hindalco Industries 960.50
Vedanta 257.20
Hindustan Zinc 561.00
Jain Resource Recycl 275.10
CMR Green Tech 212.80
View more..