Steel giant SAIL is looking at entering the titanium sector and has joined hands with the Kerala government for exploring the possibility of a project in the state, the government that April 29th 2013.
Steel Minister Mr Beni Prasad Verma informed the Lok Sabha in a written reply said that "Steel Authority of India Ltd has signed an MoU with Kerala State Industrial Development Corporation and Kerala Minerals & Metals Ltd on behalf of Government of Kerala for exploring the possibility of setting up a Titanium project in Kerala.”
He said that "Strategies such as backward and forward integration will be explored subsequently. The project, for which techno economic feasibility report is under preparation by MECON, will be set up in phases.”
Mr Verma said that a detailed project report would be prepared after completion of TEFR and establishing the financial viability of the project.
The state run PSU had inked a pact for the joint venture with KSIDC and KMML earlier this month.
SAIL Chairman Mr C S Verma had said then that the first phase of the project envisages setting up a 10,000 tonne annual capacity plant to produce titanium sponge.
The estimated cost of the unit, proposed at Chavara in Kollam district where KMML's plant is located, is around INR 2,500 crore and MECON, the unit under the Steel Ministry, had already prepared a brief on the project.
