RHIM to set up refractory recycling JV with Khemka in Odisha
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RHI Magnesita India board approved a JV with Khemka Refractories for a greenfield refractory recycling facility in Odisha. RHIM will hold 51% and Khemka 49%. The JV will be initially a wholly owned subsidiary of RHIM, with 49% later allotted to Khemka. No cash is exchanged between parties for the agreement. RHIM posted FY26 turnover of Rs 4,01,995 lakhs; Khemka turnover was Rs 48,726 lakhs. The JV targets circular economy and supply chain resilience in the Indian refractories sector.
Strategic move into recycling and circular economy. Adds a new subsidiary; near-term impact limited as facility is greenfield but strengthens long-term positioning.