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The Indian Rare Earths Limited (IREL), a PSU under the Department of Atomic Energy (DoAE) and National Aluminum Company (Nalco), India’s leading aluminum manufacturer, will float a joint venture (JV) for setting up of a titanium slag plant.
The one-lakh tonne capacity plant, estimated to cost around Rs 400 to 500 crore, will be located within the premises of the Odisha Sands Complex (OSCOM), a unit of IREL, near Chhatrapur in Odisha’s Ganjam district. The memorandum of understanding (MoU) for formation of the JV, which was signed between the two Central PSUs about three years ago, was revalidated today with the signing of fresh MoU at Mumbai. The fresh MoU was signed between R.N. Patra, CMD, IREL and Ansuman Das, CMD, Nalco in the presence of senior officers of both the companies. “The project envisages value addition of ilmenite, a mineral product of IREL, to produce titanium slag, which is an intermediate for making titanium sponge and titanium pigment,” said release issued by Nalco.
The OSCOM is currently producing 2.20 lakh tonne ilmenite per annum, most of which is exported to other countries. This mineral product would be used as a raw material for the proposed titanium slag plant to produce pig-iron, said IREL chief, R N Patra.
The titanium dioxide content in the ilmenite is upgraded from 50% to 72-83% in the titanium slag, Patra added A technology consultant for the project would be selected from the foreign countries. The JV would be floated only after the feasibility study of the project, sources said. The details on the stake of the two PSUs in the JV would be decided only after completion of the feasibility study and at the time of floating of the venture, sources said.
