Jamshedpur, September 22, 2003:

Tata Steel signed an agreement with its consortium partners for setting up its Titania project, in the State of Tamil Nadu, India on September 21, 2003. The Titania project is of strategic importance to Tata Steel for its business plan and fulfilling its Vision of "seizing the opportunities of tomorrow and create a future that will make us an EVA positive company". Tata Steel firmly believes that Titania has tremendous potential in the economic development of the country.

Tata Steel's agreement with the consortium is targeted to help in the completion of the first phase within a time frame of 20 months from the commencement of work with them. The consortium comprises Outokumpu Finland's physical separation division based in USA and Outokumpu-Lurgi, Germany and Pincock Allen Holt, USA, an international resource and mining consulting company and Larsen and Toubro, India, an engineering company. They will carry out the feasibility study, involving geological exploration, resources evaluation, preparation of mining schemes, metallurgical test work for mineral separation and ilmenite upgradation and financial analysis and assessment of techno-economic viability.

The project will be undertaken in two phases. The first phase will involve mining and separation of Ilmenite and some other minerals and its subsequent upgradation into Synthetic Rutile or Titanium Dioxide Slag and the later phase will involve Titanium Dioxide Pigment.

Tata Steel has been granted prospecting license by Tamil Nadu over an area of 80 square kilometers and the required consent from the existing landowners has also been obtained by the Steel Company.
 

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