Runaya Metsource, funded by Vedanta Group’s ‘principal shareholders’, and Russian aluminium billionaire Oleg Deripaska’s RUSAL are creating an equal joint venture for precision applications, such as rocket fuels, solar energy, and additive or 3D manufacturing. Naivedya Agarwal, son of Navin Agarwal – Chairman of Vedanta Limited, will spearhead the joint venture in his independent capacity. Starting out with an initial capital of about $50 million, Naivedya’s maiden business venture Runaya Metsource will focus on material sciences and high-technology applications through global alliances and partnerships. The new company will produce high-end value-added aluminium pastes and powders to cater to applications primarily in additive technologies and solar energy, an executive said. Additive manufacturing refers to a process by which digital 3D design data are used to build up a component in layers by depositing material. The term ‘3D printing’ is increasingly used as a synonym ...
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