Kerala - Thiruvananthapuram   

MoU with Russian firm for titanium plant signed

Special Correspondent

THIRUVANANTHAPURAM: The State Government and Rosoboronexport, a Russian Government company, on Wednesday signed a memorandum of understanding (MoU) for setting up a joint venture for manufacturing value-added titanium products utilising the mineral sand resources of the State's coast.

Principal Secretary for Industries T. Balakrishnan and Deputy Director-General of the Russian company Alexy V. Aleshin signed the MoU in the presence of Industries Minister Elamaram Karim and Finance Minister T.M. Thomas Isaac at a function here.

Technology

Mr. Karim said India now did not have the technology to manufacture titanium metal or its alloys, widely in demand across the world for building aeroplanes, submarines, military equipment and other purposes of strategic importance. Mr. Karim said the project being contemplated as the joint venture would entail an investment of between Rs.1,200 crore and Rs.1,500 crore. The proposal is to set up a plant with capacity to manufacture 10,000 tonnes of titanium sponge annually. Titanium tetrachloride required for the plant would be supplied by the State public sector Kerala Minerals and Metals Limited.

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