RHI Magnesita India to form JV with Khemka Refractories

RHI Magnesita India Ltd announced that its Board of Directors has approved entering into a Joint Venture Agreement with Khemka Refractories Private Limited. The JV aims to establish a greenfield refractory recycling facility in Odisha, India, to accelerate circular business models. Initially, the JV company will be a wholly owned subsidiary of RHI Magnesita India, which will then allot 49% of its shares to Khemka. The company also approved the incorporation of a private limited company for this venture, subject to requisite approvals.