Pradeep koneru's trimex sands, signs mo u with government of indonesia to establish an integrated titanium industrial complex
Upcoming SlideShare
Loading in...5
×
 

Pradeep koneru's trimex sands, signs mo u with government of indonesia to establish an integrated titanium industrial complex

on

  • 418 views

Trimex Sands, a part of the Trimex Group, a leading international conglomerate with a focus on heavy minerals, announced that it has signed a Memorandum of Understanding with the Republic of ...

Trimex Sands, a part of the Trimex Group, a leading international conglomerate with a focus on heavy minerals, announced that it has signed a Memorandum of Understanding with the Republic of Indonesia, in New Delhi, India on January 25, 2011

Statistics

Views

Total Views
418
Views on SlideShare
418
Embed Views
0

Actions

Likes
0
Downloads
2
Comments
0

0 Embeds 0

No embeds

Accessibility

Upload Details

Uploaded via as Microsoft Word

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

Pradeep koneru's trimex sands, signs mo u with government of indonesia to establish an integrated titanium industrial complex Pradeep koneru's trimex sands, signs mo u with government of indonesia to establish an integrated titanium industrial complex Document Transcript

  • For Immediate ReleasePress Release, Trimex Sands signs MoU …January 25, 2011Page 1 of 3 Trimex Sands, signs MoU with Government of Indonesia to establish an integrated titanium industrial complex• Trimex Group to invest 800-850 million USD towards setting up the project in three phases• Project to boost economic sustainability in the region and create 6,500 jobs• Project to reduce Indonesia’s dependency on imports for titanium dioxide pigmentNew Delhi, January 25, 2011: Trimex Sands, a part of the Trimex Group, a leading internationalconglomerate with a focus on heavy minerals, announced that it has signed a Memorandum ofUnderstanding with the Republic of Indonesia, in New Delhi, India today.As per the details of the MoU, Trimex Sands will set up a world-class integrated titanium complex,leveraging heavy mineral resources in Indonesia. The project’s site will be determined in accordancewith the location of titanium resources in the country, and will enable the authorities to advance lesser-developed regions of Indonesia. The estimated cost for the Integrated Titanium Complex is 800-850million USD, which will be invested in three phases, over the next 10 years.The project will consist of mining and mineral separation, value addition of ilmenite to titanium slag,TiO2 pigment and Ti Metal production of other associated viable minerals from the resource area. Themanufactured products will primarily be used for commercial sales and domestic consumption.His Excellency Mr. M. S. Hidayat, Minister of Industry, Republic of Indonesia, said, “This Memorandumof Understanding with Trimex Sands is a result of mutual commitment to develop and implement theutilization of the natural resources in the region and promote industrialization, in order to bringprosperity and well-being to the people. Indonesia has large ilmenite resources, about 40 million tons,despite which the country annually imports about 46,000 tons of TiO2 pigment. The proposed integratedTiO2 project will ensure regular and committed supply of pigment to end users at a cost effective price.This will also reduce our dependence on imported pigment.”“We welcome Trimex Sands new investment to Indonesia and are determined to provide all requiredsupport to the group. They have shown commitment as an investor in executing similar large-scaleprojects in different parts of the world. We are confident that their expertise and experience in thissector will help in utilizing the available natural resources in the country and create new industrialopportunities. We firmly believe that the proposed Integrated Titanium Complex will change thelandscape of the heavy mineral industry in Indonesia. Mr. Hidayat further added.The company expects the first phase of the project to start by Sept 2011 and end by Dec 2013. The firstphase will see an investment of 150-200 million USD in the production of titanium-di-oxide (TiO2 )pigment which is largely used in developing industries like paint, ceramics, paper and plastics. Theproject is expected to create close to 1,000 new jobs during this phase.The second phase of development will include production of titanium slag. In the third phase, Trimexwould concentrate on production of titanium metal and enhancing the TiO 2 pigment plant capacity. The
  • For Immediate ReleasePress Release, Trimex Sands signs MoU …January 25, 2011Page 2 of 3second and the third phase of the project would entail investments of close to 350 million USD and300-350 million USD, respectively. The entire project is expected to be completed in 8 to 10 years.Mr Prasad Koneru, Chairman of Trimex Group, said “The Indonesian economy is witnessing favorableeconomic growth and is expected to grow at 6-6.5 percent per annum. The integrated titanium complexwill expand Trimex’s reach in the global market and widen our product mix as we enter into valueaddition of co-minerals. The project would also help Indonesia meet the domestic demands for pigmentsand will provide new job opportunities for local people, thereby boosting the socio-economic condition ofthe region.”Mr. Pradeep Koneru, Executive Director & CEO of Trimex Sands, said “Our experience in Indonesia forpast eight years has been very rewarding. The proposed integrated TiO2 project is a very importantproject for Trimex Group as we aim to become the largest player in titanium feed stock industries andestablish ourselves as a fully integrated titanium producer in the Asia. This MoU marks the beginning ofTrimex Sands’ long-term strategic relationship with the government and the people of Indonesia.”Regarding the project and the mineral separation capacity, Mr. Pradeep Koneru further added that“Trimex Sands will look for titanium and zircon-rich deposits and high-grade titanium feed stockdeposits. There are large untapped resources in Indonesia and we are upbeat about the project tappinginto these resources. The production capacity of the plant will depend on variable factors like rawmaterials, infrastructure for power, water, as well as road and rail links.”According to Mr. Koneru, the project is expected to create direct employment for close to 2,000 peopleand indirect employment for nearly 4,500 people.Trimex has been operating in Indonesia for over eight years, including a kaolin plant in Bangka Belitungand a large greenfield coalmine in East Kalimantan. The Group has a keen understanding of theIndonesian marketand has been committed to improve the quality of life and ensure sustainablepractices through the implementation of long-term programs in Indonesia. To that end, the companyhas undertaken various holistic development programs for the residents of 15 villages in East Kutai inEast Kalimantan. - End -
  • For Immediate ReleasePress Release, Trimex Sands signs MoU …January 25, 2011Page 3 of 3About Trimex GroupTrimex Group has recently completed 25 years in the heavy mineral industry fulfilling the demand-supply gap forquality industrial minerals to the oil drilling industry. Indias top specialty value chain provider for industrialminerals, the Trimex Group is a minerals business house with interests in extraction, sourcing,procurement, delivery, and R&D. Trimex delivers products such as barite, bentonite, iron ore, feldspar,bauxite, ilmenite, ball clay and kaolin, among others, to the world’s leading oil drilling, ceramic, glass,construction, energy, steel and fertilizer companies.Founded in 1985 by Prasad Koneru, a veteran of the Indian minerals industry, Trimexs global deliverynetwork includes offices in India, Indonesia, Singapore and the United Arab Emirates. Productionoperations are conducted from multiple locations in the CIS, Africa and West Asia. For more Information: Trimex Group Mashael Al Naimi Head of Corporate Communications Mob: + 971 502770099 Email: mashael@trimexgroup.com IndoPacific Edelman Fauzan Zidni/Neysa Amalia Mob: +62817773431/+6281282933144