RHI Magnesita India received approval to enter into a joint venture agreement (JV agreement) with Khemka Refractories, a renowned refractory raw-materials manufacturer in India, for the formation of a new Joint Venture Company (JV Company) to accelerate circular business models and establish a greenfield refractory recycling facility in the eastern state of Odisha, India. Strategically located in the heart of India's steel production and close to major Industrial manufacturers, the proposed facility will support the rapidly growing demand for closed-loop sustainable solutions in the Indian refractory market by creating an integrated recycling supply chain.
The joint venture will focus on the recovery, processing and reuse of spent refractory materials, increase the availability of high-value raw materials for refractories and other markets and provide customers with customized recycling and enhanced sustainability solutions. The partnership represents a significant step towards contributing and advancing circular economy and CO2 reduction goals. By creating a scalable, technologically advanced refractory recycling platform, the JV aims to reduce dependence on virgin raw materials required for refractory manufacturing, improve resource efficiency, and contribute to lower carbon emissions across industrial value chains. The Board of Directors of the company at its meeting held on June 25, 2026, has approved the same.
RHI Magnesita India offers a wide range of Refractory and Monolithic products for the iron and steel industry and enjoy large domestic and international clientele.
| Company Name | CMP |
|---|---|
| RHI Magnesita India | 377.85 |
| Vesuvius India | 469.50 |
| IFGL Refractories | 185.30 |
| Orient Ceratech | 39.85 |
| Foseco Crucible (I) | 1379.75 |
| View more.. | |
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