Rain Commodities to build calcining plant in ChinaFebruary 22nd, 2008 - 6:05 pm ICT by admin
Mumbai, Feb 22 (IANS) Hyderabad-based cement manufacturing major Rain Commodities Ltd has launched a feasibility study to construct and operate a petroleum coke calcining plant in China. The study will be done through Rain Commodity’s wholly owned subsidiary, a US-based firm, and the proposed new facility will have a capacity of 300,000-500,000 metric tonne per annum.
In a filing with the Bombay Stock Exchange (BSE) Friday, the company said the project, located in eastern China and in geographical proximity to major oil refineries, would begin its operation in early 2010.
Speaking to IANS from Hyderabad, T. Srinivasa Rao, the company’s vice-president (finance), said: “It is a feasibility study we are doing and the cost of the project will be frozen after this study is over.”
According to him, the land for the proposed coke calcining plant should be close to ports as well as oil refineries.
“We are already scouting for the land and it will be acquired soon. We expect that in a span of 18-20 months the entire process would be over and we will be able to start the production by 2010,” he said.
The statement claimed that Rain Commodities with a total capacity of 2.5 million metric tonne per year is currently the largest calciner in the world. In 2007, the company produced roughly 2.2 million metric tonne of calcined petroleum coke.
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