Global refractory major RHI Magnesita, Austria will invest an estimated $53 million to ramp up its production capacity at its manufacturing units in India, RHI Magnesita Global CEO, Stefan Borgas said in a statement on Tuesday, November 30.
Mr. Borgas said that the company will double its refractory production capacity to 280,000 mt per year at its three Indian plants located at Bhiwadi, Vishakhapatnam and Cuttack.
RHI Magnesita has already set up a research and development (R&D) center at Bhiwadi, its fifth across the world, he said.
He said that that India R&D center will enable a faster response to Indian customers and will collaborate with its global network to leverage local raw materials to offer customer-centric solutions.