National Industrial Company (Tasnee) announced that its subsidiary, Advanced Metal Industries Company (AMIC), has concluded the all requirements for establishing Advanced Metal Industries and Toho Titanium Company with a paid-in capital of SAR412.5 million. It is worth noting that AMIC IS jointly-owned by Tasnee and Cristal, while the newly-established company will be 65%-owned by AMIC and 35%-owned Toho Titanium. According to the announcement, the new project will produce titanium sponge at a capacity of 15,600 tonnes per year (tpy) and is estimated to have an investment cost of SAR44 million. Trial and commercial operations are expected to commence during 2H2017, Tasnee added. (Tadawul)