The Memorandum of Understanding is directed towards enhancement of long-term and mutually beneficial Kazakh-Indian partnership and it defines key aspects of establishing a joint venture.
Memorandum of Understanding signing ceremony was attended by: Ambassador of the Republic of India in Republic of Kazakhstan - Prabhat Kumar; Joint Secretary, Department of Atomic Energy, India – A. R. Sule; Chairman and Managing Director of IREL Limited – D. Singh; Vice-Minister of the Ministry of Industry and Infrastructure Development of the Republic of Kazakhstan – A. Yerzhanov; Ambassador Extraordinary and Plenipotentiary of the Republic of Kazakhstan to the Republic of India – E. Alimbayev; Chairman of the Board of Directors of UKTMP JSC – S. Gehler; and President of UKTMP JSC – A. Mamutova.
The ceremony was held online. During the ceremony Memorandum of Understanding was signed between UKTMP JSC represented by President of the company Assem Mamutova and Government of India Undertaking IREL Limited represented by Managing Director Deependra Singh.
IREL Limited (India) is a government-owned corporation based in Mumbai. The Company is under administrative control of Department of Atomic Energy of the Republic of India. Main products of the Company are heavy minerals namely ilmenite, rutile, zircon, monazite, sillimanite and garnet. Products of the Company are supplied for electrode, ceramic, refractory, foundry, zirconium, oil refining and energy industries.
IREL Limited is important supplier of strategic materials for Department of Atomic Energy of the Republic of India. The Company makes a sustainable contribution to the country's nuclear industry and energy security through the extraction of rare earth elements and other strategic materials.
UKTMP JSC is one of the largest vertically integrated producers of titanium in the world, starting from extraction of raw materials to manufacture of high value-added products. Main types of commercial products of the plant are titanium sponge, primary magnesium ingots, titanium ingots and alloys. UKTMP JSC’s products are certified by all aerospace industry manufacturers of the world. 100% of titanium products of the company is exported to advanced economies.
High quality of products, introduction of state-of-the-art technologies allowed UKTMP JSC to take a leading position in the global titanium market. There are leading major companies of aerospace, industry, atomic energy and medicine sectors among partners of the plant, such as Boeing, Airbus, Pratt&Whitney, ATI, Arconic, Perryman, Baoti, Nippon Steel, POSCO, Safran, SNECMA, General Electric, Midhani, UKAD, Dynamet, VSMPO and others.
Using state-of-the-art technologies and experience of UKTMP JSC in the construction and operation of an industrial complex for the production of titanium slag, UKTMP JSC and the Indian company IREL Limited in 2020 decided to establish a Kazakh-Indian joint venture for the production of titanium slag. The construction of a slagging furnace in India will allow UKTMP JSC to increase the share of its own titanium-containing raw materials, reduce production cost through reducing expenses on imported raw materials. IREL Limited will be able to create a new titanium slag operation, new jobs and increase tax contributions to the state budget.
Mr. Singh expressed his hope for fruitful cooperation with UKTMP JSC and noted the importance of the implementation of this project for the Indian side.
Vice-Minister of the Ministry of Industry and Infrastructure Development of the Republic of Kazakhstan Mr. A. Yerzhanov noted that the joint venture will be another step towards strengthening alliance and strategic partnership between our countries.
Chairman of the Board of UKTMP JSC Mr. S. Gehler noted that signature of the Memorandum of Understanding on establishing Kazakh-Indian joint venture is alliance of two major companies in the world Titanium Industry, which will give opportunity to India to get added value on its world largest reserve of titanium sands and give as well to UKTMP JSC access to an additional of raw material – titanium slag: “This joint venture is a win-win project that expands activity of IREL Limited (India) as well as UKTMP JSC’s activity, therewith it will benefit both India and Kazakhstan”.
Implementation of this project will allow UKTMP JSC to decrease expenses on import of expensive titanium slag through putting into operation a slagging furnace in the Republic of India.
In spite of ongoing COVID-19 situation, titanium production metallurgists in Kazakhstan continue to work on establishing new operations. One example of such efforts is establishing the joint production and further integration of UKTMP JSC with one of the largest Indian companies in titanium market – IREL Limited (India) – to further ensure economic growth and prosperity of the Republic of Kazakhstan and the Republic of India.