The Hindu Business Line : Rain Calcining to invest in calciner project in Kuwait

The calciner is being developed and implemented by Petroleum Coke Industries Company (PCIC) in Kuwait in consortium with a group of Kuwaiti companies - Al-Mal and A H Al-Sagar - and also the company's US-based foreign collaborator, Oxbow Carbon and Minerals LLC.

According to RCL, Kuwait has for long been sought after by the calcining industry for expansion due to access to exceptional quality raw material (green petroleum coke) and the fast expanding aluminium production in the region.

Construction rights for the Kuwait calciner have been awarded to PCIC through a bid process administered by Kuwait Petroleum Corporation. The concession period is 22 years.

Kuwait Petroleum Corp will provide the entire raw material required for the calciner at an indexed price during the concession period.

On completion, the Kuwait calciner will have a capacity of 3,50,000 tonnes per annum.

RCL will have an 11.5-per cent equity stake in PCIC. The company, along with Oxbow, will have the exclusive operating and maintenance contract and also the marketing contract for the finished product, calcined petroleum coke.

Construction will begin in the third quarter of 2005 and be completed in 16 months, RCL informed the stock exchanges on Tuesday.

The company said it has signed an operation and maintenance agreement with PCIC and a shareholders agreement with the consortium members.

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