RHI Magnesita and Khemka Form Joint Venture to Establish Greenfield Refractory Recycling Facility in Odisha

RHI Magnesita and Khemka Form Joint Venture to Establish Greenfield Refractory Recycling Facility in Odisha​

RHI Magnesita, a leading manufacturer of high-grade refractory products, has announced a strategic joint venture (JV) with Khemka Refractories Pvt. Ltd., a renowned refractory raw material manufacturer. The collaboration aims to accelerate circular economy objectives and establish a greenfield refractory recycling facility in the state of Odisha, India.

The new JV is set up to create an integrated recycling supply chain by focusing on the recovery, processing, and reuse of spent refractory materials. Strategically located near India's major industrial manufacturers and steel production centers, the facility will boost the availability of high-value raw materials for refractories and other industries while offering customers customized sustainability solutions.

The partnership underscores a significant step toward advancing circular economy goals and reducing carbon dioxide emissions across industrial value chains. By creating this technologically advanced recycling platform, the JV aims to decrease reliance on virgin raw materials required for refractory manufacturing, thereby improving resource efficiency and contributing to lower carbon footprints in industrial processes.

In terms of ownership structure, RHI Magnesita will hold a 51% stake in the joint venture, with Khemka Refractories holding the remaining 49%. The transaction is currently subject to customary closing conditions and is anticipated to be finalized in the third quarter of 2026.

Executives from both companies emphasized the importance of this move for sustainable industrial growth. Parmod Sagar, Chairman, MD & CEO of RHI Magnesita India Ltd., stated that through this green-field joint venture, they are establishing a circular economy platform using globally leading processing technology and best-in-class infrastructure. He added that a closed material cycle is essential for responsible resource use and benefiting all stakeholders.

Alok Khemka, Director of Khemka Refractories Pvt. Ltd., stated he was delighted to partner with RHI Magnesita in this pioneering initiative. Leveraging his company’s operational capabilities and established network in Odisha, he noted that the JV will focus on scaling operations and ensuring secure access to critical secondary raw materials within the Indian recycling market.

Background of Companies

RHI Magnesita India Ltd. is a supplier of refractory products and systems used in high-temperature processes exceeding 1,200°C across industries such as steel, cement, glass, Iron, and non-ferrous metals. The company operates from multiple manufacturing plants and R&D centers nationwide and serves clients both domestically and internationally.

Khemka Refractories Pvt. Ltd. is an ISO Certified manufacturer specializing in refractory products, raw materials trading, and secondary raw material processing. KRPL has operational capabilities across 4 manufacturing plants and 1 R&D center located in Odisha, catering to industries including Steel making, Foundry, Power Plant, Copper, Aluminium, Cement, and Ferro Alloy.

RHIM Stock Price Movement​

RHI MAGNESITA INDIA LIMITED shares slipped today, settling at ₹376.9 after shedding 0.72% of their value in market trading. The stock recorded a total traded volume of 182,499 shares during the session.