The National Industrialization Co. (Tasnee) has launched the trial run at its Titanium Sponge Project in Yanbu Plant on Sept. 18, 2019, the company said in a bourse statement.
The relevant financial impact cannot be determined at present, and further updates will be unveiled later.
The project, which is located in Yanbu Industrial City, will initially produce 15,600 tons a year (tpa) of pure titanium, the statement added.
In January 2014, Tasnee signed a joint venture agreement with Japan’s Toho Titanium Co. Ltd. to build the SAR 1.6 billion project.
The project is 65 percent owned by Advanced Metal Industries Co. (AMIC) and 35 percent by Japan’s Toho Titanium Co. Ltd.
AMIC is 50:50 owned by Tasnee and Cristal unit.
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