RHI MAGNESITA INDIA LIMITED has entered into a strategic joint venture with Khemka Refractories Pvt. Ltd. to establish a greenfield refractory recycling facility in Odisha. RHI Magnesita will hold a 51% stake in the joint venture, with Khemka Refractories holding the remaining 49%.
The proposed facility will focus on the recovery, processing and reuse of spent refractory materials. Strategically located near India's steel production centres, the facility is designed to create an integrated recycling supply chain for the domestic refractory market. The joint venture aims to provide customers with customized recycling solutions and increase the availability of high-value raw materials.
The joint venture will combine RHI Magnesita's global expertise in refractory recycling with Khemka Refractories' regional manufacturing presence and supplier network. The partnership aims to reduce dependence on virgin raw materials required for refractory manufacturing and lower carbon emissions across industrial value chains.
Parmod Sagar, Chairman, MD and CEO of RHI Magnesita India Ltd. stated that the company is committed to deepening its technological investment in India. He said the greenfield joint venture will build a circular economy platform with advanced processing technology and infrastructure, creating long-term supply security for customers.
Alok Khemka, Director of Khemka Refractories Pvt. Ltd. said the partnership will focus on scaling operations and quality consistency in the Indian recycling market while ensuring access to critical secondary raw materials.
The transaction is subject to customary closing conditions and is expected to close in the third quarter of 2026. The Odisha facility will support growing demand for closed-loop sustainable solutions in the Indian refractory market.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.