Runaya Metsource

Runaya signed two joint venture agreements worth $75 million: a 50:50 JV with UC Rusal to produce aluminium pastes and powders in India, and a JV with Taha International Corporation for aluminium dross processing technology.

Runaya Metsource LLP has signed a 50:50 joint venture with Russia's UC Rusal to set up an aluminium pastes and powders production unit in India, and its affiliate RRL has tied up with Bahrain's Taha International Corporation for aluminium dross processing. Total investment is $75 million.

Runaya Metsource and Rusal are forming an equal joint venture to produce high-end aluminium pastes and powders for additive manufacturing, rocket fuels, and solar energy. Initial capital is about $50 million, with commercial production starting in 2018.

Runaya Metsource and UC Rusal signed a 50:50 joint venture agreement to set up a 10,000 tonnes per annum facility in India for producing high technology aluminium pastes and powders. The project will begin in 2017 and commence commercial production in 2018.