The Travancore Titanium Products (TTP) has received a new lease of life following an assurance from the Indian Rare Earths (IRE) to supply ilmenite.
The decision was taken at a meeting convened by Industries Minister E.P. Jayarajan on Saturday.
The production at TTP had ground to a halt after the plant found itself unable to purchase the raw material from IRE due to the lack of working capital.
An official press note issued here said the Minister had held consultations with the IRE management to sort out the crisis at the TTP.
It said the decision would help the TTP to move out of the red.
