Given the strategic importance of Europe as a market for Ashapura’s product basket, the company is setting up a Mineral Processing Complex at Antwerp in a 50:50 Joint Venture with AMCOL International Corporation. The processing facility will currently have the capability of processing three products Bentonite, Bleaching Clay and Kaolin which would be exported from India in a semi-processed form. Setting up such a processing hub in Europe would add value in terms of inventory management and quality control to the end user, thereby enhancing Ashapura’s value offering.

The project is set to be commissioned by December 2007.

Ashapura has been a preferred supplier of Barites from India with an established global marketing network. Processed Barites are used in oil drilling. Nigeria not only has sizeable deposits of Barites but also is a major consumer of Barites on account of its oil production. Ashapura will have a 48% stake in a Barites Processing Complex in Nigeria with Emo Energy Ltd., one of Nigeria’s leading oil and energy solutions conglomerate. The joint venture has been allotted 3,800 sq. kms of land for mining and prospecting solid minerals.

The project is set to be commissioned by March 2008.

In pursuance of the Joint Venture agreement signed with Alawi Enterprises LLC, we have established a company for mining, processing and value addition of industrial minerals. Ashapura will have 60% stake in this JV company. The first phase of this project would be mining and processing of calcium carbonate and gypsum which will be supplied to various industries including paper, paint, plastic and cement. In the second phase value added business like clinker, white cement and gypsum board shall be established.

Malaysia is a very large and important production centre for edible oils. Ashapura has a 25% stake in a reputed Bleaching Clay manufacturer in Malaysia called Hudson MPA Snd. Bhd. (Hudson). This company imports Attapulgite and Bleaching Clay from Ashapura in India and process it further for its eventual marketing in Malaysia and neighbouring countries.