RHI Magnesita India and Khemka Refractories Form JV for Greenfield Refractory Recycling Plant in Dhenkanal, Odisha
RHI Magnesita India Ltd has entered into a Joint Venture Agreement with Khemka Refractories Private Limited to set up a greenfield refractory recycling facility in Dhenkanal, Odisha. The Board of Directors of RHI Magnesita India approved the agreement at its meeting on June 25, 2026.
Under the arrangement, the joint venture entity will initially be incorporated as a wholly owned subsidiary of RHI Magnesita India, with 49% of shares subsequently transferred to Khemka Refractories. RHI Magnesita will hold a 51% stake in the venture and is making a nominal cash investment of ₹10,000 for its shareholding.
The facility will focus on the recovery, processing and reuse of spent refractory materials — heat-resistant products used in steel, cement, copper, glass and aluminium production at temperatures above 1,200°C. The plant's location near eastern India's major steel manufacturing hubs is intended to support supply chain efficiency and reduce dependence on virgin raw materials.
RHI Magnesita India operates eight manufacturing plants, two mines and an R&D centre in Bhiwadi. Khemka Refractories, ISO 9001:2015 certified, operates four production plants and an R&D centre in Odisha. The transaction is expected to close in the third quarter of 2026.