Tasnee updates on The latest developments on the Titanium Sponge Project
6/25/2019

 

 

 

 

Further to announcement published on Tadawul website on 27-12-2018 related to the last update on Titanium Sponge Project, Tasnee announces the delay on the startup of the project from what have been planned and announced in Tadawul to be in the second half of 2019 because of the delay on commercial operation of the row material unit (Titanium Tetrachloride) which is expected to be completed by the third quarter of 2019.  
 
The initial Titanium Sponge Project capacity is (15,600) tons/year in Yanbu Industrial City. The Project and the Ilmenite Smelter are major downstream projects in Tasnee titanium value chain. The financial impact of this Project cannot be determined at this stage. Further developments relating to the Project will be announced in due course.
 
The project is owned by Advanced Metal Industries and Toho Titanium Company Limited which (65%) of its share interest is owned by Advanced Metal Industries Co., Ltd., and the later owned by Tasnee (50%) while Cristal owns the other half, and the remaining (35%) of its share interest owned by Toho Titanium, a Japanese company.