PTC Industries, a manufacturer of engineering components, is spending Rs 300 crore to build a titanium recycling facility in Lucknow as it strives to become a supplier for the aerospace and defence industries.
High-precision metal components are provided by PTC Industries for extremely important industrial applications, such as those in the aerospace and military industries.
The anticipated expenditure, according to its chairman and managing director Sachin Agarwal, is in addition to the titanium casting plant’s existing Rs 350-crore expansion and will only be used to support the aerospace and defence industries.
“We have a 50-acre campus near the Brahmos facility, which already is our customer, in the Lucknow Defence Corridor. The proposed titanium recycling facility will be the first of its kind plant in the private sector in the country,” Agarwal said.
The proposed facility, which will come up over the next three to four years, will recycle the waste generated by the aerospace industry while making titanium castings.
