News & Announcements

Cost Reduction Projects Commissioned…

02-Dec-2010

Hon’ble Industries Minister Sri.Elamaram Kareem has inaugurated two major cost reduction projects viz. Synthetic Rutile Project and Recovery of Valuable Minerals Project [Zircon-Siluminate Project] of the Company on 23^rd November 2010.While speaking on the occasion he said that the Titanium sponge Plant being set up by the ISRO on the KMML, premises in Chavara will be commissioned by February next year.

Inaugurating two cost reduction projects set up at a cost of Rs 53 Crore at Kmml on Tuesday, He said that the government would go ahead with all projects beneficial for the company. With the commissioning of the project at a cost of Rs 170 Crore, will emerge as the fifth country in the world to produce titanium sponge .The commissioning of Titanium Sponge Production plant would enable to become one among five countries with the technology to produce Titanium sponge. The technology was developed by the Defence Research and Development Organization.

The new Units will to augment Production of Synthetic Rutile and separate the rare minerals like Zircon and Siluminite. Mr.Kareem said the new Synthetic –Rutile project had come up at a cost of Rs 32 crore. The unit would enable KMML to bring down the Cost of production of Synthetic Rutile by Rs. 30.5 crore annually. The unit to separate Zircon and Siluminite was set up at a cost of Rs 21 crore.

A new Oxygen plant would be set up at KMML at a cost of Rs 43 crore. The Minister said that as part of its cost reduction measures, the company would use coal as fuel for the boilers.

Allegation that coal would pollute the area were baseless he said. This fiscal, KMML would achieve a record profit of Rs 130 Crore. He said that a portion of the profit would be utilized for welfare activities for the people living in the vicinity of the company. The Minister announced an incentive of Rs 5000 each to the employees for completing the units in record time

Water Resources minister N.K.Premachandran, who presided wanted KMML to give priority for welfare measures in the surrounding areas.

Chavara Block Panchayat President Kolath Venugopal, Panmana Panchayat President Adv.E.Yousf kunju , Chavara Panchayat President D.Sunilkumar, Trade Union Leaders Kadavoor Shivadasan, N.Padmalochanan, K.Suresh Babu, R.Ramachandran were felicitated. Managing Director N.R.Subrahmaniam welcomed the participants and Executive Director C.J.George proposed vote of thanks.