Indian Rare Earths Ltd and NALCO Joint Venture

Recently, the Indian Rare Earths Limited (IREL) and the Navratna CPSE NALCO had agreed to set up a 1-lakh TPA Titanium Slag Project in Joint Venture, at Chhatrapur in Ganjam district of Odisha, with an investment of INR 750Cr. For this, a pre-feasibility report was prepared and IREL had floated Expression of Interest for technology supply. NALCO has taken the lead in attracting global technology suppliers. This was discussed between Dr. Tapan Kumar Chand, CMD, NALCO and Shri D. Singh, CMD, IREL, in presence of senior officials of both the companies recently.

"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," said Dr. Chand. "In fact, during the recent visit of our Director (P&T) Shri N.R. Mohanty to China, Chalieco had expressed interest in participating in the project. NALCO will also scout for other global suppliers in countries like Russia, Ukraine and the US," Dr. Chand added.

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