Bhubaneswar, Jan 15 (PTI) National Aluminium CompnyLimited (NALCO) has entered into a Memorandum of Understanding(MOU) with Indian Rare Earths Limited (IREL), a PSU underDepartment of Atomic Energy, for making value-added productsfrom beach sand minerals.
The final product would subsequently be used formaking titanium and allied products. The MoU was signedbetween two central PSUs in the presence of directors andsenior officers of both the companies, here yesterday.
������The project is estimated to cost Rs 400 crore and isplanned to be set up at Chhatrapur in Ganjam district ofOrissa.
������Titanium has a strategic importance for the country andis a key material used in space, aviation, nuclear,automobile and paint industries. As there was no productionof titanium locally, the entire requirement of the country wasbeing imported, they said.
On the other hand, beach sand (that contains Monaziteand Ilmenite), the basic raw material for production ofTitanium, is available in huge quantity with IREL and isexported without value-addition.
The development of these value-added products will bean important step towards import substitute for the country,an official release said.