Rusal and Runaya Metsource Partner to Form New Joint Venture Focused on Advanced Technology Including 3D Printing
A new company will be entering the 3D printing industry in the next year as two companies from India and Russia come together to form an equal joint venture focused on advanced technology. Russian aluminum producer Rusal will be joining forces with Runaya Metsource, an Indian business venture established recently by entrepreneur Naivedya Agarwal, son of Navin Agarwal, who is the chairman of diversified natural resource company Vedanta Ltd. The younger Agarwal will act as Managing Director of the new venture, which will encompass a number of precision applications such as solar energy, rocket fuels and 3D printing.
The joint venture will set up a facility specializing in aluminum pastes and powders, which will be used for a variety of applications including additive manufacturing. India is aggressively pursuing advanced technologies such as 3D printing, and the new venture will focus on the Indian market as well as the Southeast Asian and Middle Eastern markets. Rusal, meanwhile, already has a global presence, operating in 19 countries on five continents, and their wide reach will complement Runaya’s local influence in India.
Rusal was established in 2000, and specializes in aluminum, aluminum alloys, foil and alumina at every stage of production from mining to smelting and milling. Currently, Rusal is among the three most cost-effective aluminum producers in the world, and the company prioritizes sustainable development and advanced technology, both of which play a large role in the foundation of the new venture. Rusal is already involved in more than one joint venture, including a partnership with RusHydro to construct a new hydropower station and a project involving the development of a new coal basin.
“Rusal’s strategic priority includes the increase in production and sales of high value added products, including the creation of joint ventures,” said Alexey Arnautov, Rusal’s director for new projects. “A combination of Rusal’s long lasting experience in production of aluminum powders and pastes as well as Runaya Metsource’s strong positions as a local player create solid competitive advantages for the JV and is an excellent foundation to penetrate the market.”
The joint venture between Rusal and Runaya Metsource will unfold in several stages, with the first being the registration of the venture and the selection of a construction site and a design plan for the new plant. The project will begin this year, and the company expects to begin commercial production in 2018.
“Runaya’s strategy is to enter businesses focusing broadly on material sciences and manufacture products with high technology applications through alliances and partnerships with global leaders,” said Agarwal. “I’m delighted with this joint venture with Rusal, which will innovate and produce high-end aluminum based products for fast growing global and regional markets.”
“Currently India’s demand of gas-based aluminium pastes/powders are met entirely through global supply,” he added. “This will also give customers access to world-class R&D facilities for product development.”
The venture is also likely to accelerate India’s growing additive manufacturing industry and boost the Make in India initiative, which was launched in 2014 with the goal of transforming the country into a global design and manufacturing hub. Discuss in the Joint Venture forum at 3DPB.com.
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