Beijing: Signalling growing Sino-Indian bilateral trade ties, the State of Kerala today (Feb 23, 2004) signed a major deal with a Chinese company for the export of titanium dioxide worth $ 10 million.

The Kollam-based Kerala Minerals and Metals Ltd (KMML), a fully-owned State-run undertaking, signed a memorandum of understanding (MoU) with Shanghai Yingtai International Trading Limited Company (SYLITLC) in Shanghai for the export to China titanium dioxide (rutile) grade from Kerala.

As per the contract, which will be valid till September 30, 2004 and which will be reviewed and fixed after mutual discussion for the period October 1, 2004 to March 31, 2005, KMML will supply titanium dioxide to SYLITLC, at a minimum of 6,200 mt during the contract period with an average offtake of 400 mt per month as single order.

The value of the contract is estimated to be around $ 10 million, Managing Director of KMML, K P Rajendran said.

The MoU was signed at the Consulate General of India, Shanghai in the presence of the Consul General of India Sujan Chinoy.