A Chinese Institute has expressed interest in technology transfer and investing in a titanium dioxide (pigment grade) manufacturing unit in Andhra Pradesh.
The Institute of Process Engineering, a premier Chinese research institute has offered to give pollution free technology to convert titanium slag to pigment grade titanium dioxide to Satyavathi Titaslag, a Hyderabad-based company.
A delegation of the Chinese Institute and Mr Y.Jithin Kumar, promoter of Satyavathi Titaslag today met the Andhra Pradesh Chief Minister Mr.N.Kiran Kumar Reddy and discussed the venture.
The Hyderabad company proposes to manufacture titanium slag and convert it to titanium dioxide (pigment grade). It has acquired around 700 acres of land in Nandigama taluk of Krishna district. The Chinese delegation expressed interest in investing upto Rs 700 crore in the plant, a release from the CM office said.
Pigment grade titanium or titanium white finds varied applications from paints to industrial to food colouring etc. China is amongst the biggest manufacturers of this important material.
The delegation included Sun Zhiqun of Beijing Sino Steel Yatai Technology, Jingkui Qu, Xu Hongbin, Jinglong Chu and Tu Qing Hai all from Institute of Process Engineering.
Satyavathi Titaslag is a new venture of Mr Jithin Kumar, who is the original promoter of SJK Steels, which has an integrated steel plant in Tadipatri in Anantapur district. He holds a small stake now having sold majority stake to the Kalyani Group a couple of years ago.
(sources: Hindu Business Line)