Addendum Announcement from National Industrialization Co. an update on The latest developments on the Titanium Sponge Project
|Introduction||The National Industrialization Company (Tasnee) announces the startup the commissioning production on the Titanium Sponge project|
|Date of Posting the Previous Announcement of Development on Tadawul's Website||2019-06-25 Corresponding to 1440-10-22|
|Change on the Development||Tasnee is pleased to announce that the commissioning production of titanium sponge at Yanbu plant started on 18 September 2019 Corresponding to 19/01/1441.The plant is located at Yanbu industrial city, with production capacity of 15,600 Tons/Year.The Project and the Ilmenite Smelter are major downstream projects in Tasnee titanium value chain.|
|Financial Impact on the change||The financial impact of this Project cannot be determined at this stage.|
|Additional Information||Please note that the Project 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. |
Further developments relating to the Project will be announced in due course.
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