NALCO signs MoU with IREL for titanium Project

BHUBANESWAR: National Aluminium Compny Limited (NALCO) has entered into a Memorandum of Understanding (MOU) with Indian Rare Earths Limited (IREL), a PSU under Department of Atomic Energy, for making value-added products from beach sand minerals.

The final product would subsequently be used for making titanium and allied products. The MoU was signed between two central PSUs in the presence of directors and senior officers of both the companies, here yesterday.

The project is estimated to cost Rs 400 crore and is planned to be set up at Chhatrapur in Ganjam district of Orissa.

Titanium has a strategic importance for the country and is a key material used in space, aviation, nuclear, automobile and paint industries.

As there was no production of titanium locally, the entire requirement of the country was being imported, an official release said.

On the other hand, beach sand (that contains Monazite and Ilmenite), the basic raw material for production of Titanium, is available in huge quantity with IREL and is exported without value-addition.

The development of these value-added products will be an important step towards import substitute for the country, an official release said.