India and Kazakhstan Establish JVC to Develop Titanium Value Chain
#TitaniumValueChain #Ilmenite #IREL #IndoKazakhJVC #Titanium #JVCThe JVC envisages to synergize the strength of the respective companies by establishing a plant in the titanium value chain for producing Titanium Slag by utilizing IREL’s Ilmenite from Odisha.
November 2024 : IREL (India) Limited, (IREL) CPSU under the Department of Atomic Energy (DAE), Govt. of India and Ust-Kamenogorsk Titanium and Magnesium Plant JSC, (UKTMP JSC) Kazakhstan have signed an agreement to establish Indo-Kazakh joint venture company (JVC)- IREUK Titanium Limited for production of Ti Slag in India.
The Agreement was signed by Dr. Deependra Singh, Chairman and Managing Director, IREL (India) Limited and Assem Mamutova, President UKTMP JSC in the presence of Dr. A.K. Mohanty, Secretary DAE & Chairman, Atomic Energy Commission (AEC) from Indian side and other dignitaries from the Republic of Kazakhstan.
The JVC will act as a catalyst in developing the Titanium value chain within India. It shall beneficiate low grade Ilmenite into high grade Titanium Feedstock and also result in employment generation opportunity in the State of Odisha. The offtake arrangement by UKTMP JSC shall be instrumental in bringing valuable forex for the country and aid UKTMP JSC in raw material security. Thus, JVC between IREL and UKTMP JSC shall enhance the brand equity of both the companies as well as act as growth engine for India and Kazakhstan in the titanium value chain.
IREL generates surplus Ilmenite in the course of its operation at Odisha and has reputation for supply of quality minerals and rare earth compounds world over. UKTMP JSC, Kazakhstan is one of the world's largest vertically integrated titanium producers, from raw material extraction to high value-added products that includes titanium sponge and ingots. The products of UKTMP JSC are certified by all world manufacturers of the aerospace industry viz. Boeing & Airbus. 100 percent of titanium products are exported to highly developed countries.
The JVC envisages to synergize the strength of the respective companies by establishing a plant in the titanium value chain for producing Titanium Slag by utilizing IREL’s Ilmenite from Odisha. UKTMP JSC shall provide the technology for producing Ti Slag and shall take the agreed quantities for input to their Ti sponge plant.
Speaking on the occasion, Dr Mohanty, of IREL (India) limited and mentioned that the new Indo-Kazakh JVC will pave the way for Atmanirbharata in the field of Titanium slag production in the country.
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