NEW DELHI, January 25 (RIA Novosti) - Russia's state-run Vnesheconombank (VEB) signed Thursday a three-party agreement with Russian company Tekhnokhim Holding and India's Saraf Agencies Private Ltd. on establishing a chemical and technological complex in east India.

The Russian president began a two-day visit to the Asian nation earlier in the day, aimed at boosting trade ties and securing military and energy deals.

The agreement, signed as part of Vladimir Putin's visit, aims to establish strategic partnership and develop long-term, effective and mutually advantageous cooperation within the framework of a joint Russian-Indian venture.

"This will be a science-intensive integrated chemical and metallurgical complex to produce titanium dioxide and other titanium products on the territory of India (in the state of Orissa) as a core enterprise within a special economic zone," the document says.

Russia's share in the joint venture is expected to be 55%.

"For the needs of Russian consumers, the joint venture plans to supply 30,000 tons of titanium dioxide and up to 45,000 tons of titanium slag a year," the document says.