New Delhi: Indian Rare Earths Limited (IREL India Limited), a CPSU under the Department of Atomic Energy (DAE), Government of India, and Ust-Kamenogorsk Titanium and Magnesium Plant JSC (UKTMP JSC), Kazakhstan, have signed an agreement to establish the Indo-Kazakh joint venture company (JVC), IREUK Titanium Limited, for the production of titanium slag in India. The agreement was signed by Deependra Singh, Chairman and Managing Director of IREL (India) Limited, and Assem Mamutova, President of UKTMP JSC, in the presence of A.K. Mohanty, Secretary of DAE and Chairman of the Atomic Energy Commission (AEC), alongside Iran Sharkhan, Vice Minister of Industry and Construction of the Republic of Kazakhstan, Yermek Kosherbayev, Akim of the East Kazakhstan region, and Nurlan Zhalgasbayev, Ambassador of Kazakhstan to India.
The joint venture will act as a catalyst in developing the titanium value chain within India, beneficiating low-grade ilmenite into high-grade titanium feedstock, while generating employment opportunities in Odisha. The offtake arrangement by UKTMP JSC will contribute valuable foreign exchange and aid in securing raw materials for UKTMP. This collaboration between IREL and UKTMP will enhance both companies' brand equity and act as a growth engine for India and Kazakhstan in the titanium sector.
IREL generates surplus ilmenite in its Odisha operations and is globally recognised for the quality of its minerals and rare earth compounds. UKTMP JSC, Kazakhstan, is one of the world’s largest vertically integrated titanium producers, spanning raw material extraction to high-value products, including titanium sponge and ingots. UKTMP’s products are certified by leading aerospace manufacturers such as Boeing and Airbus, and 100% of its titanium products are exported to developed countries.
The joint venture company plans to synergise the strengths of both companies by establishing a titanium slag production plant using IREL’s ilmenite from Odisha. UKTMP JSC will provide the technology for producing titanium slag and will off-take the agreed quantities to supply its titanium sponge plant.
Speaking on the occasion, A.K. Mohanty, Secretary of DAE, lauded the efforts of IREL and stated that the new Indo-Kazakh joint venture company IREUK Titanium Limited, established in DAE's platinum jubilee year, will pave the way for self-reliance (Atmanirbharata) in titanium slag production in India.
BI Bureau
