TRL Krosaki Refractories Limited (formerly Tata Refractories Limited) and Raghav Productivity Enhancers Limited (RPEL), the world's largest producer of silicate ramming material, have signed an agreement to establish a joint venture (JV) in the state of Odisha. The goal of this partnership is the production and sale of silicate ramming material.
The signing of the Joint Venture Agreement (JVA) took place in Kolkata on Saturday. The collaboration aims to combine TRL Krosaki's extensive reserves of quartzite minerals with RPEL's manufacturing expertise, patented technologies, and its established presence in both domestic and international markets.
Silicate ramming material is an important refractory product actively used in industrial processes, particularly in induction furnaces for metal smelting. The proposed JV is intended to boost the added value of Odisha's mineral resources and strengthen India's position globally in the silicate ramming material industry.
Continuation of Cooperation
Under this partnership, RPEL will provide the JV with its technical knowledge, existing client network in India and abroad, distribution capabilities, and R&D experience. These competencies are expected to help the new company expand its market presence and accelerate business growth.
Prasant Kumar Naik, Managing Director of TRL Krosaki Refractories, noted that this JV is a significant strategic step for TRL Krosaki. He emphasized that the partnership aligns with the company's objective of maximizing resource utilization and opening new avenues for growth and shareholder value increase.
The joint venture will enable TRL Krosaki to transition from merely extracting and supplying mineral resources to higher-value manufacturing. The company also stated that this partnership supports its goals of maximizing resource use and creating new opportunities for growth and shareholder value.
Naik added that the project will have a broader economic impact on Jarsuguda and surrounding areas. He stated that besides commercial benefits, the project will be an important opportunity to promote industrial development in Jarsuguda and its vicinity, as the production facility will create local jobs, support local businesses, and contribute to the long-term economic development of the region.
The partnership also grants RPEL access to TRL Krosaki's mineral resource base, allowing it to leverage its existing technology and market network to expand its business.
Sanjay Kabra, Chairman of RPEL, commented that the collaboration with TRL Krosaki merges high-quality mineral resources with their company's manufacturing experience and patented technologies. Kabra noted that this cooperation will strengthen the company's ability to serve clients in both Indian and international markets while laying the foundation for future expansion.
The JV will be located in Odisha, and this project aligns with the state's growing focus on mineral-based, value-added industries. However, the official announcement did not disclose details regarding the projected investment, production capacity, commissioning timeline, or the ownership structure of the joint venture.
TRL Krosaki Refractories Limited is one of the largest manufacturers and exporters of refractory products in India, with a turnover of INR 2,881 crore in the fiscal year 26. The company's main plant is located in Jarsuguda, Odisha. Since its establishment in 1958, TRL Krosaki has been a pioneer in the production of refractory materials in India.