RHI Magnesita India, the local arm of Austrian refractory producer, will invest an estimated $40 million over the next two years, to upgrade technology and expand capacities, a company statement said on Thursday, November 23.
“This strategic move includes efforts for de-bottlenecking and the implementation of advanced technologies such as iron ore pelletization and the production of green steel products, the company statement said.
It currently operates at 65 percent capacity and commands nearly a third of the market share in India and is poised for growth with these investments. After successfully integrating three subsidiaries - RHI Clasil, RHI India, and Orient Refractories - and acquiring Dalmia-OCL and Hi-Tech Chemicals, RHI Magnesita India has enhanced its product offerings significantly, the company said.
In addition to scaling up its production capabilities, RHI Magnesita India also plans to increase its capacity utilization by at least 10 percent through the adoption of robotics and artificial intelligence.