Jun 29, 2010 - Carborundum Universal, part of the $3.03 billion Murugappa group, has indicated that it has made significant progress on the silicon carbide project in Volzhsky, Russia, and is set to invest about $75 million to build a 1 lakh tonne facility there.
The company had announced in November 2008 that it would set up a SiC fusion plant at a cost of about $50 million through its Russian subsidiary, Volzhsky Abrasive Works (VAW).
"The total outlay for the 1 lakh tonne silicon carbide capacity at VAW has now been increased to about $75 million as the project now includes infrastructure like rail line, approach road and state-of-the-art environmental and energy technology," Carborundum Universal managing director K Srinivasan told Financial Chronicle.
"Since for the first time a plant of this size is implemented anywhere in the world, it is taking a little longer time. We are almost close to assembling technology platform for the unit. We expect to commence work in the next six months after assembling right technology and strategic partners. We have also tied up for most of the back end processes of the plant," he said.
The factory is expected to be operational in 18 months' time after commencement of construction activities. The first phase will consume nearly two-third of the proposed investment.
