On 16 October 2008, the Orissa provincial government in India inked an MoU for setting up the country’s first ever integrated Titanium Chemical and Metallurgical Complex with an investment of INR 2000crore. The MoU was signed between the state government and Titanium Products Private Ltd, a joint venture between the Government of Russian Federation and Saraf Group, to set up the titanium complex at Chhatrapur in Ganjam district. It would have facilities like titanium slag (108,000tns/yr), titanium dioxide pigment (40,000tns/yr), titanium sponge (10,000tns/yr) and pig iron-biproduct (68,000tns/yr). Project promoters have already entered into a long term contract with Indian Rare Earths Ltd for supply of raw material. The joint venture company have been allocated land and is expected to commence production by October 2010.
