BULLISH ABOUT NEW SMELTER

The Star Early Edition - - BR | NEWS - Dineo Faku

VEDANTA Zinc In­ter­na­tional, owned by In­dian bil­lion­aire Anil Agar­wal, is bullish about its plans to in­vest $800 mil­lion (R11.05 bil­lion) in a smelter in the North­ern Cape, de­spite a load-shedding pro­gramme that has threat­ened the econ­omy. Com­pany chief ex­ec­u­tive Desh­nee Naidoo told jour­nal­ists yes­ter­day that the com­pany would take its chances with the coun­try and Eskom by forg­ing ahead with the smelter-re­fin­ery com­plex. Naidoo said the com­pany would not only rely on Eskom for its power needs, but would ap­proach pri­vate pro­duc­ers. “We know to build a me­ter will be chal­leng­ing as it is no longer a greenfields project. We have built smelters in In­dia five times. That is why we are con­fi­dent we can do this,” she said. The com­pany has started a fea­si­bil­ity study into the con­struc­tion of a smelter that will process con­cen­trates from its Gams­berg project out­side Spring­bok, North­ern Cape. It has claimed that the smelter will make it the first in­te­grated zinc fa­cil­ity in the coun­try. Naidoo an­nounced the $800m in­vest­ment dur­ing Pres­i­dent Cyril Ramaphosa’s in­vest­ment Con­fer­ence in Oc­to­ber. | [email protected]

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.