Tasnee announces the Latest Developments on the Ilmenite Smelter Project

Further to the previous announcement which was published on Tadawul on April 3rd, 2016 regarding the latest developments on the Ilmenite Smelter Project which produces Titanium Slag, Tasnee announces that work is still ongoing to solve the technical problems which require special spare parts being especially manufactured for the project due to its large size and using the newest technology of its kind in the field. This requires adopting some procedures and preparing special programs for the qualification and operation of the plant located in the economic city of Jazan.

Tasnee works with the technolgy provider to solve these technical problems as well as making use of specialized bodies in this field to assist in operating according to the standards and procedures of this industry. It is expected that the trial operation will be in the first half of 2018 and commercial production during the second half of 2018.

Most of the project production will be used as a raw material for the Titanium Dioxide products which are produced in the company’s plants in Saudi Arabia and abroad. The  produced materials of the project are currently available in the international markets at competitive prices which makes it difficult to determine the financial impact of that on the company consolidated financial results. Tasnee holds a 50% stake in the project, while the remaining shares are owned by Cristal which is 79% owned by Tasnee. Further major developments will be announced later on. ​