Bhubaneswar: RHI Magnesita has announced a strategic joint venture with Khemka Refractories Pvt Ltd to establish a greenfield refractory recycling facility in Odisha.
The collaboration aims to accelerate circular business models and build a scalable recycling ecosystem by combining RHI Magnesita’s global recycling expertise with Khemka Refractories’ established regional manufacturing strength.
Strategically situated in the heart of India’s steel production region, the upcoming facility is designed to meet the growing demand for closed-loop, sustainable solutions within the Indian refractory market. The joint venture will focus on the recovery, processing, and reuse of spent refractory materials, increasing the domestic availability of high-value raw materials while offering customised recycling solutions to industrial clients, a company release said.
The initiative marks a significant step toward advancing the circular economy and lowering carbon emissions across industrial value chains. By creating a technologically advanced recycling platform, the partnership intends to reduce the industry’s reliance on virgin raw materials, enhance resource efficiency, and support sustainable industrial growth.
Parmod Sagar, Chairman, MD & CEO of RHI Magnesita India Ltd, em
phasized that the timing is right to build an ethically compliant circular economy platform that brings trust, innovation, and scale to raw materials management. ““India is one of the world’s fastest-growing industrial markets, and as the market leader in refractories, RHI Magnesita is committed to deepening its technological investment in the country. We believe the time is right to build an ethically compliant circular economy platform that brings trust, quality, innovation, consistency and scale to raw materials management for refractories and other industrial markets.”
He noted that the greenfield facility will lay the foundation for a circular economy platform equipped with globally leading processing technology and best-in-class infrastructure, ultimately avoiding waste and creating long-term supply security for customers. “We will advance circularity, avoid waste and create long-term supply security and superior value for our customers in line with our 4PRO Solutions proposition. A closed material cycle is essential for sustainable business and the responsible use of valuable resources benefiting all stakeholders.”
Echoing this sentiment, Alok Khemka, Director of Khemka Refractories Pvt Ltd, expressed delight in the pioneering partnership. “With our operational capabilities, strategic location in Odisha and well-established supply and partner network, we are well-positioned to support the development of a robust recycling platform. Together, we aim to focus on scaling operations, process depth and quality consistency in the Indian recycling market while ensuring secure access to critical secondary raw materials,” he added.
Under the terms of the agreement, RHI Magnesita will hold a majority 51% stake in the joint venture, while Khemka Refractories will retain the remaining 49%. The transaction is subject to customary closing conditions and is anticipated to close in the third quarter of 2026.