Bhubaneswar: Indian Rare Earths Limited (IREL), a Central Public Sector Undertaking (CPSU), under the Department of Atomic Energy (DAE), 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’ in Odisha for production of Titanium slag.
The agreement was signed by IREL chairman and managing director Deependra Singh, and UKTMP JSC president Assem Mamutova, in presence of Atomic Energy Commission secretary DAE and chairman AK Mohanty and Republic of Kazakhstan Industry and Construction Vice Minister Iran Sharkhan, Akim of East Kazakhstan Yermek Kosherbayev and Ambassador to India Nurlan Zhalgasbayev.
Speaking on the occasion, Mohanty lauded the efforts of IREL (India) limited and mentioned that the new joint venture IREUK Titanium Limited, that is being established in the platinum jubilee year of DAE, will pave the way for Atmanirbhar Bharat in the field of Titanium slag production in the country.
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The JVC will act as a catalyst in developing Titanium value chain within the country as it will benefit low-grade Ilmenite into high-grade Titanium feedstock and also result in employment generation opportunity in the state.
IREL generates surplus Ilmenite in the course of its operation in the state and has a reputation for supply of quality minerals and rare earth compounds the 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 – Boeing and Airbus.
