Indian steelmakers have made the first steps in creating a powerful joint venture for the production of titanium in Kerala (south-western part of the country). It is the international community became aware after the company «Steel Authority of India Ltd» (SAIL) has published on its website information about signing with partners tentative agreement in which the parties confirmed their intention to participate in large-scale titanium project on the Malabar coast. «Last week, representatives of our organization, as well as KMML management of the companies («Kerala Minerals and Metals Ltd «) and KSIDC («Kerala State Industrial Development Co «) put their visas under the text of the» Memorandum of Understanding «, which describes the plans of the parties on creating a powerful titanium plant in Kerala. The project involves the implementation in several stages, the first of which we plan to build a plant for the production of titanium sponge. In the future, the company will acquire units upstream and downstream integration, the necessary resources to ensure the effective supply of the plant, and sustainable presence of its products on the market «- said in the» Steel Authority of India Limited reported. «
SAIL — State Metallurgical Company, which is one of the five largest corporations in India. In terms of steel production (main product «Steel Authority of India Ltd») company, which produces over 10 mln. Tons of metal per year, one of the twenty leaders of the global market. Among the assets of the organization — 5 of ferrous metallurgy plants, 4 plants for the production of alloys and special purpose products based on them, as well as one plant for the production of ferroalloys.
The joint venture, which management SAIL plans to set up together with KMML and KSIDC, will require an investment of about 455 million US dollars. Previously announced capacity of the complex will be from 18 to 40 thousand tons of titanium sponge in the year that the global volume of production (in the range of 20 thousand. Tons per month) is a very significant amount.