Tasnee issues update on delay in operations of ilmenite smelter project

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National Industrialization Co. (Tasnee) announced the successful operation of the first furnace at 42 megawatts (MW) compared to the target load of 45 MW (70% of furnace design capacity) as part of the sustainable operations test, according to a statement to Tadawul.
 
Currently, the first furnace integrity is being maintained at a load of 42 MW, producing high-quality chloride slag and pig iron, which is sold to customers after repairing technical problems, including the furnace roof.
 
Tasnee said that the target load of 45 MW is expected to be achieved in H2 2023.
 
In consultation with technical experts, the management believes that load ramp-up to the original design capacity requires installing new higher-capacity electrical equipment.
 
The company is evaluating viable options, including installing upgraded electrical equipment, to achieve the original design capacity. The project consists of two furnaces, the statement said.
 
Tasnee is targeting to complete evaluating viable options and achieve sustainable operation at the desired power level in H2 2023, as the sustainability of operation and production in the industry takes time.
 
The statement said that Advanced Metal Industries Cluster (project owner) and Metso Outotec (contractor) will bear the costs of the design modifications.
 
The financial impact of this project on its consolidated financial results cannot be determined at this stage.
 
Any further developments will be announced in due course, the statement noted.
 
The company announced, on Dec. 5, 2021, the start of the trial operation of its ilmenite smelter project to produce titanium slag and the first batch of pig iron, according to data available with Argaam.

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