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Advanced manufacturing and materials technology company PTC Industries, on Thursday, announced the signing of a Memorandum of Understanding (MoU) with the Government of Odisha to establish an aerospace-grade titanium sponge manufacturing facility in the state.
The company said in an exchange filing that the initiative will position PTC (and its subsidiary Aerolloy Technologies) as one of the very few companies in the world with an integrated titanium manufacturing value chain--spanning from the production of titanium sponge, titanium alloy ingots, forged billets, rolled bars, rods, sheets, plates, and precision castings. Titanium sponge is the fundamental raw material required for manufacturing titanium alloys, which are indispensable in aerospace, defence, and advanced industrial sectors. At present, only a handful of countries, including the United States, Russia, Kazakhstan and Japan, have the capability to produce aerospace-grade Titanium Sponge. India, despite having the third-largest reserves of Titanium ore in the world, has long been dependent on foreign nations for the production of Titanium Sponge and its downstream aerospace-grade products. The company said this places India at a significant strategic disadvantage, creating a dependency on international suppliers for critical defence and aerospace applications. With this initiative, PTC Industries and Aerolloy Technologies intend to place India in this elite group, securing an uninterrupted domestic supply of this strategic material. With the establishment of a titanium sponge manufacturing capability, PTC Industries will move further towards its vision of parity and global leadership in the production of critical metals and components for aerospace, defence, and high-performance industrial applications, the company added. Speaking on the occasion, Sachin Agarwal, Chairman & Managing Director of PTC Industries said, "This MoU signifies an important step towards strengthening India's Titanium industry. With Odisha's support and our technological expertise, we aim to build a fully integrated titanium manufacturing ecosystem that can cater to the evolving needs of global aerospace and defence industries. We appreciate the proactive efforts of the Government of Odisha in facilitating this opportunity and look forward to exploring the potential of this investment." The Government of Odisha has played a pivotal role in facilitating this strategic investment, offering a conducive industrial ecosystem, policy support, and infrastructure incentives. Odisha's rich natural resources, skilled workforce, and progressive policies have been instrumental in attracting high-value manufacturing projects. (ANI)
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