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. The new JV Company will initially be a wholly-owned subsidiary of RHI Magnesita India, with Khemka Refractories acquiring a 49% stake post-incorporation. The agreement is subject to requisite approvals and fulfillment of terms. The company also approved the incorporation of a private limited company.