RHI Magnesita India, a leading refractory company, has announced a significant investment plan of ₹333 crore over the next two years aimed at expanding and upgrading technology at its facilities. 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, which currently operates at 65% capacity and commands nearly a third of the market share, 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.
CEO Stefan Borgas confirmed that the investments would be internally financed, leveraging the robust demand within the Indian market across various industries including steel and cement. Refractories are crucial in these sectors as they serve as thermal barriers that can withstand high temperatures.
In addition to scaling up its production capabilities, RHI Magnesita India also plans to increase its capacity utilization by at least 10% through the adoption of robotics and artificial intelligence. This tech-forward approach is expected to streamline operations and boost efficiency.
The company is not only focusing on domestic growth but also aiming to become an export hub for West Asia. With an eye on further acquisitions to strengthen its integration, RHI Magnesita India targets a turnover of ₹4,000 crore (INR100 crore = approx. USD12 million) for the fiscal year 2024. This ambitious goal reflects the company's commitment to reinforcing its position in the market and expanding its global reach.
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