Kochi: Foraying into the titanium segment, steel major SAIL inked an agreement with Kerala Metals and Minerals Ltd and Kerala State Industrial Development Corporation. The state-run major will be setting up a joint venture through the recent venture to produce titanium sponge and metals.
Phase-I of the project involves a plant having an annual capacity of 10,000 tonne to produce titanium sponge. The estimated cost of the unit to be developed at Chavara in Kollam district is around Rs2,500 crore.
“A Detailed Project Report would be made by appointing a consultant. Initial plans are to have main raw material titanium tetrachloride produced at the KMML plant,” said AIL Chairman C S Verma.
Steel Special Secretary Bharat Bhushan said SAIL is also interested in the proposed Rail Wagon Manufacturing Unit in Palakkad. Though they had planned it under PPP model, they were not able to find a suitable private partner and SAIL had expressed interest in it, he said. Kerala Chief Minister Oommen Chandy said with this unit, India would become the largest Titanium sponge producing country in Asia.
EPC World News Bureau
The post SAIL inks deal with Kerala cos, forays into titanium segment appeared first on EPC World.