Bhubaneswar, May 4 (UNI) FGUP Giridmet and JSC Technochim Holding, the two Russian government undertakings, have decided to set up a Rs.1150 crores Titanium processing plant at Sriramchandrapur near Chatrapur in Orissa's Ganjam district.
A high-level Russian delegation from the both the companies led by their Indian partner Saraf Agencies Private Limited Managing Director S M Saraf yesterday met Chief Minister Naveen Patnaik to discuss about the project.
The proposed beach sand project would produce 5000 tonnes of titanium sponge per annum besides 90,000 tonnes of titanium slag, 58,000 tonne high purity pig iron,50,000 tonnes of titanium dioxide pigment and 20,000 tonnes ferro titanium.
According to Mr Saraf, the Russian government would contribute equity through its subsidiaries. The Giridmet, a Russian institute of research and development, however, would provide the necessary technology knowhow for the project.
Official sources said the Russian companies have sought 300 acres of land near Ramchandrapur for the project.
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