RHI Magnesita India, a subsidiary of the Austria-based RHI Magnesita, is set to invest ₹333 crore in the next two years for activities such as de-bottlenecking, capital expenditure, technology enhancements, and introducing new offerings across its nine manufacturing facilities.
Stefan Borgas, the CEO of RHI Magnesita, mentioned that the investments in India will be funded through internal resources. Currently, the company operates at a 65 percent capacity utilization with a total capacity of 5,37,000 tons. RHI Magnesita India owns three mines, two for quartz in Odisha, and one for bauxite in Gujarat.
As reported by businessline, in addition to ongoing investments, the company is exploring potential acquisitions in India, which may involve refractory product manufacturers or operational mines. RHI Magnesita India was created through the amalgamation of three subsidiaries – RHI Clasil, RHI India, and Orient Refractories. Notably, in the December quarter of 2022, the company completed the acquisition of Dalmia-OCL and Hi-Tech Chemicals.
