Australian firm scripts R&D pact with NLCIL and NMDC
Melbourne: An Australian company has signed an agreement with two Indian public-sector undertakings (PSUs) to develop the firm's low emission iron-and-steel process via an integrated plant in India, the largest-ever joint research and development (R&D) collaboration between the two countries, according to a statement.
The agreement signed by Melbourne-based Environmental Clean Technologies (ECT) with NLC India Ltd and National Mineral Development Corporation (NMDC) on Wednesday, will focus on commercialising ECT's two proprietary technologies -- Matmor and Coldry, the ECT said in a statement. The agreement entails two phases, starting with an 35-million dollars R&D phase that would be funded by the Indian partners. It aims to scale up ECT's two technologies to deliver an integrated pilot plant capable of producing 2 tonnes of metal per hour, it said.
Following successful R&D outcomes, phase II involves commercial expansion, targeting an integrated steel-making facility with a proposed capacity of 500,000-tonne per annum and an estimated cost of 300 million dollars.
The partners will then assess opportunities for global commercial expansion based on market assessment at that time, the statement said, adding that the parties were on track to deliver the sub-agreements by August. A team comprising senior officials of NMDC and NLCIL attended a ceremony in Canberra to sign the deal with ECT chairman Glenn Fozard in the presence of the Indian High Commissioner to Australia, A M Gondane.
"Today marks a significant milestone on the journey which, all going to plan, will see the commissioning of our Coldry-Matmor pilot plant in India by the end of 2019,'' ECT chairman Fozard said.