🔊 Take a moment and listen

IREL (India) Limited, a Central Public Sector Undertaking (CPSU) under the Department of Atomic Energy (DAE), Government of India, and Ust-Kamenogorsk Titanium and Magnesium Plant JSC (UKTMP JSC) of Kazakhstan have entered into a partnership to form a joint venture, IREUK Titanium Limited. This venture aims to produce titanium slag in India. The agreement was signed by Dr. Deependra Singh, Chairman and Managing Director of IREL (India) Limited, and Ms. Assem Mamutova, President of UKTMP JSC, in the presence of Dr. A.K. Mohanty, Secretary of DAE and Chairman of the Atomic Energy Commission (AEC) from India, and prominent officials from Kazakhstan, including Mr. Iran Sharkhan, Vice Minister of Industry & Construction, Mr. Yermek Kosherbayev, Akim of East Kazakhstan, and Mr. Nurlan Zhalgasbayev, Ambassador of Kazakhstan to India.

The joint venture will contribute to the development of India’s titanium value chain by upgrading low-grade ilmenite into high-grade titanium feedstock, creating employment opportunities in Odisha. The off-take arrangement by UKTMP JSC will also help secure raw materials for their operations and boost foreign exchange earnings for India. This collaboration will strengthen the brand reputation of both IREL and UKTMP JSC while driving growth in the titanium sector for both India and Kazakhstan.

IREL, known for its high-quality minerals and rare earth compounds, generates surplus ilmenite from its operations in Odisha. UKTMP JSC is a leading global producer of titanium, with a fully integrated supply chain, producing titanium sponge and ingots, and its products are widely used by top aerospace manufacturers like Boeing and Airbus. All of UKTMP JSC’s titanium products are exported to developed countries.

The joint venture will leverage the strengths of both companies, with IREL supplying ilmenite and UKTMP JSC providing the technology to produce titanium slag. UKTMP JSC will also take a portion of the production for its titanium sponge plant.

Speaking at the event, Dr. A.K. Mohanty, Secretary of DAE, praised IREL’s efforts and highlighted that this new Indo-Kazakh joint venture, IREUK Titanium Limited, being established in the platinum jubilee year of DAE, marks a significant step towards achieving self-reliance in titanium slag production in India.

Be a part of Elets Collaborative Initiatives. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook , connect with us on LinkedIn and follow us on Twitter, Instagram.