Bahrain based Taha International WLL has announced a tie up with the Indian start up company Runaya Refining LLP (RRL).
The Indian counterpart, which aims to provide dross processing solutions to the aluminium industry is a company founded by the Agarwal brothers, Naivedya and Annaya. Their start up Runaya Metsource, the parent of Ranaya Refining, is funded by the principal shareholders of the Vedanta group, and will be managed by Annaya Agarwal. Annaya Agarwal’s father is the Chairman of Vedanta Ltd.
Taha has signed a technology licensing agreement with Runaya Refining to address one of the biggest challenges facing the Indian Aluminium industry today, which relates to the handling, evacuation and disposal of dross in an environmentally friendly manner. Developed by TAHA as a major waste minimisation initiative, the new treatment method makes it economically viable to treat and convert residual waste, thus eliminating any environmental impact of dross. The environmental aspect of aluminium manufacturing is now a major factor for all sectors of the industry.
The project launched by RRL will set up a dross processing facility in Jharsuguda, with an initial capacity of 30,000 MT. RRL expects to commission Phase 1 by end of 2017 and commence commercial production in 2018.
Frank Pollmann, Taha International’s CEO and founder commented “India represents one of the most important Aluminium markets in the world, and RRL is strongly positioned to serve this market. Many years of experience, and dedicated service in the aluminium industry in Bahrain serving robust companies like Alba, and Garmco have borne fruit, and I am delighted that Taha technology, conceived and developed here in Bahrain, is going to be implemented in India.”
As per the agreement, Runaya will obtain Taha International’s technology for exclusive operations in India and receive value added product distribution rights on a worldwide basis.
Annaya Agarwal, CEO of Runaya Refining commented “This is an advanced technology that has tremendous market potential in India and can contribute significantly to India’s manufacturing sector.”