The Hindu : Andhra Pradesh News : Titanium plant in State mooted

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Friday, Jun 24, 2005

Andhra Pradesh

Andhra Pradesh

Titanium plant in State mooted

Special Correspondent

MoU with Russian firms to be signed

HYDERABAD: The Mines and Geology Minister, Sabita Indra Reddy, has said that the Government will shortly sign a Memorandum of Understanding (MoU) with two Russian companies to establish a titanium slag and sponge plant in the State.

Speaking to reporters on his return from a 10-day tour of Russia to visit AVISMA and VSMPO, two Russian producers of titanium and magnesium, here on Thursday, Ms. Sabita Indra Reddy said the five-member delegation comprising his Cabinet colleague, Botsa Satyanarayana, the APMDC Managing Director, Rajagopal, its Chairman, Narsingh Rao, and the Industries Secretary, Krupadanam, were impressed by the facilities in the two companies.

"The companies have evinced keen interest to set up the industry in the State even as Kerala was making a determined bid to woo them," she said. The Minister said the two companies would invest Rs. 500 crore in the first year which would go up to Rs. 4,500 crore by the fourth year.

Ms. Sabita Indra Reddy said the State had 116 million tonnes of ilemenite reserves used in making ferro titanium alloys and pigments.

Because of its lightweight nature and corrosive resistance, it was used in making aircraft and automobile bodies, she added.

The Minister said the two companies would only be issued joint lease permits along with the APMDC.

The Government has not yet decided on the APMDC equity share in the joint venture, she added.

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