Companies

Runaya Metsource to invest ₹480 cr in value added metal space

Our Bureau Mumbai | Updated on January 12, 2018 Published on May 29, 2017

Inks ventures with Russian and Bahrain companies

Runaya Metsource LLP, promoted by billionaire Vedanta Resources Chairman Navin Agarwal’s sons, has signed two joint ventures with Russian and Bahrain companies to set up value added products in the aluminium space with combined investment of $75 million (about ₹480 crore).

Runaya Metsource has signed a joint venture with Russia’s UC Russal to set up a modern aluminium pastes and powder production unit, while its subsidiary Runaya Refining LLP has tied up with Bahrain’s Taha International Corporation for aluminium dross processing using TIC’s patented technology.

Manufacturing plant

The aluminium paste manufacturing plant will have a capacity of 10,000 tonnes per annum and will start commercial production next year.

The company is yet to make a choice between Gujarat and Odisha (Jharsuguda) for putting up the plant, sources said.

The products produced from the plant will find use in high-end applications, including additive technologies and solar energy.

Disposing waste

Currently, the domestic demand for these products is met through imports, said the company in a statement on Monday.

Runaya Refining will address the major challenge of disposing the waste generated in aluminium production.

The plant coming up at Jharsuguda in Odisha will have capacity to process 30,000 tonnes of aluminium manufacturing waste and the first phase is expected to start commercial production by 2018.

Annanya Agarwal, CEO, Runaya Refining, said apart from ramping up dross processing capacity in phased manner, the company plans to provide other innovative solutions for the aluminium industry.

Published on May 29, 2017
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