Tasnee forms a joint venture to produce Titanium sponge

The National Industrialization co. (Tasnee) announced today on tadawul signing a preliminary agreement with TOHO Company, Japan- based co., regarding forming a joint venture plant to produce Titanium Sponge with a capacity of 20,000 tons per annum.
 

The targeted plant will cost SAR 1.6bn that will be financed 30% by the partners and the remaining by bank credits and SIDF.

The partener under this agreement are Tasnee by 32.5%, Cristal Global (Tasnee affiliated co.) by 32.5% and TOHO by 35%.

The construction work is to start in Q4 of 4014, the trial run is expected in Q1 of 2017 and the project is to go on stream on Q2 of 2017.