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. This strategic move is subject to requisite regulatory approvals and fulfillment of terms outlined in the JV agreement.