Friday, Mar 29 2024 | Time 01:55 Hrs(IST)
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Business Economy


NALCO and IERL to set up Titanium Slag Project

Bhubaneswar, May 5 (UNI) Indian Rare Earths Limited (IREL) and the central Public sector
Navratna NALCO had agreed to set up a 1 lakh TPA Titanium Slag Project in Joint Venture
with an investment of Rs 750 crore.
The joint venture eproject will be established at Chhatrapur in Ganjam district of Odisha.
A pre-feasibility report prepared and IREL had floated Expression of Interest for technology
supply. However, since no global technology supplier evinced interest, now NALCO has
taken the lead in attracting global technology suppliers.
The matter was discussed between NALCO CMD Tapan Kumar Chand and IERL CMD
D Singh in presence of senior officials of both the companies, here today.
“Titanium is regarded as a high-end metal and NALCO aims to enter into a niche market
with this venture.The company, by virtue of its strong international presence, would play a
vital role in attracting reputed suppliers for this project,” Dr Chand said.
Sources said NALCO will also scout for other global suppliers in countries like Russia,
Ukraine and the United States.
UNI DP BM RSA AS2251
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