Saudi's Tasnee says ilmenite project to start production in H1 2017
KHOBAR Saudi Arabia: Saudi Arabia'sNational Industrialization Company (Tasnee) expects anilmenite smelter project in the southern city of Jizan to startcommercial production during the first half of 2017 it said onSunday.
Tasnee said in the bourse statement that the project whichmakes titanium slag is still under testing and trial start-upis expected during the second half of this year.
The firm's CEO told Reuters in November that commercialoperations were expected to commence by the third quarter of2016 and the plant would benefit Tasnee as it would cover almosttwo thirds of its feedstock needs which it currently imports.
Tasnee's bourse statement said technical work was stillongoing due to the project's large size and the long period oftesting required at such plants to meet global safety andquality standards.
It could not determine the project's financial impact"because of the current status of the titanium industry and theperiod required by the trial start-up".
The project is equally owned by Tasnee and Cristal; itself79 percent-owned by Tasnee.
Reuters