New Delhi [India], February 23 (ANI): Hindustan Zinc signed a strategic Memorandum of Understanding (MoU) with Tripura Group to fast-track the development of a Zinc Park in Rajasthan.

According to a exchange filing by Hindustan Zinc , the agreement facilitates the operationalisation of a manufacturing unit within the company's Zinc Park located at Khankhala in the Bhilwara district of Rajasthan. The partnership marks a step in establishing India's first integrated downstream industrial hub dedicated to zinc-based value chains.

Under the terms of the agreement, Hindustan Zinc provided an assured raw material linkage to the proposed unit of the Tripura Group. The support includes a committed long-term offtake arrangement to ensure stability for the new facility.

Both entities align their investment and production plans to enhance scale and efficiency within a robust downstream zinc ecosystem. The initiative focuses on driving sustainable industrial growth across the region by leveraging localised manufacturing capabilities.

The Zinc Park project was initially announced by Rajasthan Chief Minister Bhajan Lal Sharma and Vedanta Group Chairman Anil Agarwal during the Rising Rajasthan Global Investment Summit in December 2024.

Situated near the mining and smelting operations of Hindustan Zinc at Chanderiya, Dariba, and Debari, the hub operates in collaboration with the Rajasthan State Industrial Development and Investment Corporation (RIICO).

The project aims to attract new investments, foster job creation, and strengthen the industrial framework of Rajasthan through a dedicated manufacturing corridor.

Arun Misra, Chief Executive Officer of Hindustan Zinc, stated, 'Zinc Park is a strategic initiative that translates our long-term vision for a resilient and competitive metal value chain into concrete action. Our partnership with Tripura Group demonstrates how targeted collaboration can unlock downstream value and accelerate Make in India manufacturing. The assured supply arrangements, coupled with performance-linked incentives and renewable energy commitments, will provide investors with the confidence to scale. We are determined to build an ecosystem that supports MSME growth, creates local jobs, and drives technological improvements across the zinc value chain.'

Tripura Group enters the project as an anchor investor, bringing expertise in beneficiation inputs and process optimisation for metal processing. The collaboration intends to drive operational synergies and improve efficiency for downstream processors while bolstering the reliability of industry inputs. This technical integration supports the broader goal of enhancing the quality of materials available within the domestic market.

Hindustan Zinc, a Vedanta group company, continues to engage in consultations with potential investors to scale the Zinc Park in a phased manner. The company works alongside Rajasthan State Industrial Development & Investment Corporation Limited (RIICO) and state authorities to deliver the industrial park with industry-grade infrastructure and a focus on skill development for local communities.

The project remains centered on maintaining strong sustainability credentials as it expands its footprint in the zinc-based industrial sector. (ANI)