None to market Kerala Minerals and Metals Ltd

KOLLAM: Over 9,000 tonnes of titanium dioxide worth over Rs 125 lakh has piled up in the  Chavara plant of Kerala Minerals and Metals Ltd (KMML) due to the alleged inefficiency of the marketing wing. The company has not yet filled the vacancy of a marketing manager though it has been advertising it for the last three years.

The only public sector company that could tap  the  precious black sand resource of Kerala is facing a crisis as it could not compete with other players in the international market, a  KMML source told DC.

This  has led to the  piling up of its inventory to a massive 9,000 tonnes. The remuneration offered to prospective candidates is not attractive.

The company also faces competition from low-priced Chinese product,  while a tonne of titanium dioxide produced at the KMML plant would fetch Rs 1.40 lakh to the company.

“The company also has to consider the salaries and incentives of its employees, which make it tough to bring down the production cost,” the source said.

The cost of synthetic rutile or beneficiated Ilmenite produced at the plant is as low as Rs . 25,000 while that purchased from outside would cost double the amount.

The RS 10,000-crore titanium metal production project proposed in association with the Steel Authority of India also has not taken off due to lack of availability of technology though a global tender was called about two years back.

“Some vested interests are spreading rumours that the company is unable to move forward and that the board has decided to  wind up the plant. They refer to a board meeting that was planned on October 17, which never took place,”  Mr Zakkir Hussain, director board member, told DC.

However, the company that made  a profit of over Rs 150 crore  four years back has been experiencing loss since then.