Logo of National Industrialization Co. (Tasnee)
National Industrialization Co. (Tasnee) announced that Titanium Ilmenite Smelter Plant is forecast to start trial operations in Q4 2021, due to the COVID-19 precautionary measures, the firm said in a statement to Tadawul today, Sept. 16.
Tasnee also noted technical design modifications were delayed, along with supplies from various manufacturers, due to the pandemic.
Currently, the completion ratio of the project stands at 98%.
After the decommissioning of the furnace and identifying the reasons for the furnace shutdown, the company devised a repair plan in collaboration with global experts.
The statement added that Outotec, the engineering, procurement, and construction (EPC) contractor, will bear the costs of the design modifications.
The financial impact of this project on Tasnee’s consolidated results cannot be determined at this stage, the statement said. Any further developments will be duly revealed.
In October 2018, Tasnee announced turning off the furnace on the back of a technical glitch, with operations expected to begin in H2 2019, Argaam reported.
In December 2019, Tasnee announced that its ilmenite smelter project is expected to resume operations in the second half of 2020.
The project, located in Jazan Economic City, aims at producing (Titanium Slag) with an initial capacity of 500,000 tons a year, and could reach 1 million tons, in addition to its production of pig iron as a by-product sold to iron producers.
Tasnee owns only 50% of the project, while the remaining stake is owned by Cristal, which is 79% owned by Tasnee.
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