E Kazakhstan’s company to build plant in India
During his working trip to India, akim of the East Kazakhstan region Ermek Kosherbayev, participated in the official ceremony of signing an agreement on the establishment of a joint Kazakh-Indian enterprise. The agreement concerns cooperation between the Ust-Kamenogorsk Titanium and Magnesium Plant Joint-Stock Company (UKTMP JSC) and the Indian state company IREL Limited in the production of titanium slag. UKTMP JSC is to build a plant in India in order to facilitate the collaboration, Kazinform News Agency has learned from the press service of region’s akim.
“India is demonstrating robust growth in East Kazakhstan's foreign trade. We are gathered today at a significant event that symbolizes the strong ties between Kazakhstan and India. The signing of the agreement opens new avenues for collaboration and makes a substantial contribution to the development of both countries. This document pursues common goals and will undoubtedly serve as an impetus for the implementation of other projects in the field of high technology and sustainable development,” Ermek Kosherbayev emphasized.
The agreement will facilitate the expansion of UKTMP’s raw material base, thereby enhancing the competitiveness of Kazakhstani titanium in the global market by reducing production costs.
Titanium slag is utilized in the production of spongy titanium, a crucial input for the manufacture of titanium alloys.
The agreement was signed by President of UKTMP JSC Assem Mamutova, and Managing Director of IREL Limited Deependra Singh.
The ceremony was attended by Vice Minister of Industry and Infrastructure Development of the Republic of Kazakhstan Iran Sharhan, Ambassador Extraordinary and Plenipotentiary of the Republic of Kazakhstan to the Republic of India Nurlan Zhalgasbayev, Honorary Consul of Kazakhstan in Mumbai Mahendra Kumar Sanghi, and his deputy Asif Navroz, as well as the Chairman of the Board of Directors of UKTMP Sylvain Gehler.
