The processing plant will be located in Odisha as it will be in close proximity to major steel mills in the country and will focus on efficient collection, processing and recycling of used refractory materials, the company said.
The joint venture will create an integrated recyclable supply chain and increase the availability of recycled raw materials for refractory production and other industrial applications, he added.The move comes as manufacturers increasingly seek to reduce dependence on imported raw materials, reduce costs, and achieve sustainable development goals by incorporating more recycled content into industrial production, the company said.
Refractory materials are heat-resistant materials used to make furnaces, furnaces, and reactors in industries such as steel, cement, and glass. They are essential consumables for steelworkers and usually need to be replaced periodically.
