Tasnee Announces the delay of operation for Titanium Ilmenite Smelter Plant

With reference to the announcement published on Tadawul on December 25th 2019 relating to the Ilmenite Smelter Project for the production of high-grade titanium feedstock (the ‘Plant’), The National Industrialization Company (TASNEE) announces that after decommissioning the furnace and completion of a root cause analysis together with global experts culminating in identifying the root causes for the premature failure of the Furnace, the repair plan was devised and modifications are being implemented by Outotec, the EPC Contractor, with the support of Tronox under the Technical Services Agreement. Outotec will bear the costs of the design modifications. However, due to Covid-19 pandemic precautionary measures and lock down, some of the technical design modifications have been delayed as well as supplies from various Manufacturers. Accordingly, the plant is expected to restart during the third quarter of 2021,with a current progress rate of 62%.