RHI Magnesita India and Khemka Refractories Form 51:49 JV for Odisha Recycling Plant

26 Jun 2026, 15:05 by Vinay Kakkad · KalingaTV

RHI Magnesita India Ltd just signed a joint venture deal with Khemka Refractories Pvt Ltd to set up a new refractory recycling plant in Odisha—a major move for industrial sustainability. They picked this location as it’s close to major manufacturers in eastern India, making it ideal for scaling up circular business models and meeting the growing demand for closed-loop, sustainable solutions in the country’s refractory industry. The new plant will focus on recovering, processing, and repurposing used refractory materials—these are those heavy-duty, heat-resistant products that can handle temperatures above 1,200°C in steel, cement, copper, glass, and aluminum production.

When it comes to ownership, RHI Magnesita India will hold 51% of the venture, leaving Khemka Refractories with 49%. The plan is to set up the joint venture as a fully owned RHI Magnesita India subsidiary at first, then transfer 49% of shares over to Khemka Refractories. The deal is still pending the usual closing conditions and should wrap up by the third quarter of 2026. As outlined in the agreement, each company gets to pick and replace its own nominee directors, but any changes to the capital structure need all shareholders to sign off.

This partnership aims to boost local resource efficiency, cut carbon emissions along industrial supply chains, and reduce dependence on raw materials like magnesia and alumina. RHI Magnesita brings top-notch processing technology and global recycling know-how to the table; Khemka Refractories offers deep regional expertise and a reliable local supplier network. Parmod Sagar, Chairman, MD & CEO of RHI Magnesita India Ltd, says the new plant lays the foundation for a strong circular economy platform, promising less waste, more supply security, and greater value for clients. Alok Khemka, Director of Khemka Refractories Pvt Ltd, points out that the partnership gives the joint venture access to critical secondary raw materials and helps build up regional recycling systems.

Both companies have serious manufacturing and research capabilities. RHI Magnesita India is a leading producer and supplier of high-grade refractory products, running eight modern manufacturing plants, two mines, and a top R&D center in Bhiwadi. Khemka Refractories, certified to ISO 9001:2015 standards, operates four production plants and has its own R&D center in Odisha—giving the new plant a strong local foundation for growth.