Russia-based titanium co to set up JV with Kerala

By Staff
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Google Oneindia News

Moscow, June 22 (UNI) Russia's VSMPO-Avisma, the world's biggest titanium producer, is planning to set up a joint venture (JV) on processing and smelting with the state-run Kerala Minerals and Mining Ltd (KMML).

In future, this JV may supply its products to local aerospace corporation, HAL, the RBC business daily reported today.

''The Indian side has already signed the protocol on intentions on the construction of a plant for production of sponge titanium with a capacity of 10,000 tonnes per annum. In 2008, we will develop the strategy of the enterprise and in 2009 production can start,'' VSMPO-Avisma director general Vladislav Tetyukhin said.

Tetyukhin said the products of the JV could be partly imported to Russia and also exploited in the framework of the project on creating Russia-India transport aircraft (MTA - multi-role transport aircraft).

A source in Rosoboronexport, the main shareholder of the titanium company, told the paper that the JV with KMML was only the first step of VSMPO-Avisma on the Indian market.

''There is an agreement with India's Defence Ministry on setting up an enterprise on producing titanium intermediate products for India's aerospace corporation HAL,'' the source said.

The Indian company Midhani can become VSMPO-Avisma's partner in this project, the source added.

UNI

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