New Delhi, Nov 28 (UNI) Carborundum Universal Ltd (CUMI), an arm of the Murugappa group, today said it has signed a Memorandum of Understanding (MoU) with Russia's Administration of the Volgograd Region to set up a plant at a cost of 50 million dollars.
The company will set up a 100 thousand tonnes SiC Fusion Plant at a cost of about 50 million dollars through its subsidiary Volzhsky Abrasive Works, Volgograd Region, Russia, a statement said.
The new plant would have environment friendly fusion technology and also high energy efficiency.
Volgograd Region would support this project by way of arranging power supply, raw material supply and suitable land.
The project, which is expected to be implemented in phases, would provide direct and indirect employment of over 500 people in the Region.
CUMI acquired Volzhsky Abrasive Works, Volgograd in September last year.
It operates 18 plants in India and six overseas. With this addition, CUMI would become one of the largest producers of Silicon Carbide and Bonded Abrasives in the world.
CUMI has its major manufacturing units in India, Russia, China and South Africa and has operations in nine countries, including Australia, Canada, the West Asia, the US and Thailand.
UNI SBA MP HS1903