RHI Magnesita India forms JV with Khemka for refractory recycling plant in Odisha
RHIM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
RHI Magnesita India's board approved a joint venture with Khemka Refractories to set up a greenfield refractory recycling facility in Odisha. The JV will be incorporated as RHIM's wholly owned subsidiary initially, with Khemka later taking 49 percent and RHIM holding 51 percent. No cash consideration is exchanged. RHIM had a turnover of about Rs 40,199 crore in FY26, while Khemka's turnover was around Rs 4,872 crore. The JV targets circular economy and supply chain resilience.
Expands RHI Magnesita into circular refractory recycling in eastern India. Positive for long-term growth and sustainability, though near-term financial impact is limited.