Rusal, one of the world's largest aluminium producers, inked a Joint Venture (JV) agreement with Runaya Metsource on equal terms to produce high technology aluminium paste and powders in India. Runaya Metsource is a Mumbai-based company promoted by the shareholders of Vedanta.
Alexey Arnautov, RUSAL's director for new projects said, "RUSAL s strategic priority includes the increase in production and sales of high value added products, including the creation of joint ventures”.
Furthermore, he also added: "A combination of RUSAL s long lasting experience in production of aluminium powders and pastes as well as Runaya Metsource s strong position as a local player create solid competitive advantages for the JV and is an excellent foundation to penetrate the market."
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The project is likely to begin in 2017 and commencement of commercial production in 2018. Presently, these products are imported in order to meet the demand in India.
The installed capacity is estimated to be around 10,000 tons per annum, specialising in the production of aluminium paste and powders with a wide range of high-end applications, including in additive technologies and solar energy.
Naivedya Agarwal, the CEO of Runaya Metsource and designate Managing Director of the JV said, "Runaya's strategy is to identify businesses focusing broadly on material sciences and deliver products with high technology applications, through alliances and partnerships with global leaders."
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