SAIL signed MoU with KSIDC and KMML for setting up a Titanium Project
SAIL on 4 April 2013 signed a MoU with KSIDC and KMML for setting up of a Titanium Project as Joint Venture. This will enhance the economy of Kerala.
A Memorandum of Understanding (MOU) was signed between Steel Authority of India Limited (SAIL) and Government of Kerala PSEs, Kerala State Industrial Development Corporation (KSIDC) and Kerala Minerals and Metals Ltd (KMML), on 4 April 2013 at Thiruvananthapuram, Kerala for setting up of a Titanium Project in Joint Venture in Kerala.
About the MoU and its Benefits
• It will explore the possibilities of setting up of the Titanium Project in Joint Venture in Kerala will be explored by SAIL and KSIDC& KMML, in a phased manner
• The project’s success will enhance the economy of Kerala and put forward the overall development of the area
• Titanium Tetrachloride for Titanium Sponge and Metal Plant will be supplied by the KMML, during the Phase 1 of the project
• The parties, would look forward for long term viability of the project by backward and forward integration
This is the second titanium project at such a large scale in Kerala after the Nation’s first titanium sponge plant was put up at KMML’s Chavara complex in Kerala between KMML, Vikram Sarabhai Space Centre (VSSC) and the Defence Metallurgical Research Laboratory in the year 2011.
People who represented their organization during the signing of the MoU were Chief Minister of Kerala, Oommen Chandy and the Minister for Industries & IT, Kerala, PK Kunhalikutty and Special Secretary & Financial Advisor of Ministry of Steel, E.K. Bharat Bhushan, and SAIL Chairman, C.S. Verma.