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This JV would enable Coromandel to diversify beyond its core agri-inputs business, enhance integration synergies and create long-term value, the company says.
| Photo Credit: Special Arrangement
Coromandel Chemicals Ltd., a wholly-owned subsidiary of Coromandel International Ltd. of the Murugappa Group, said it has signed definitive agreements to form a joint venture with Sakarni Plaster for the manufacture and sale of Phospho Gypsum-based Green Building Materials.
This JV would enable Coromandel to diversify beyond its core agri-inputs business, enhance integration synergies and create long-term value, the company said.
This venture would be India’s first large- scale initiative to promote sustainable Green Building Products, it said.
The manufacturing facility will be established in Visakhapatnam, adjacent to Coromandel’s fertilizer plant, ensuring reliable feedstock availability through gypsum generated as a by-product from fertilizer operations.
S. Sankarasubramanian, Managing Director and CEO, Coromandel International Ltd., said, “The joint venture represents a strategic move for Coromandel in advancing our sustainability and circular economy goals. By creating value from industrial by-products and diversifying into green construction materials, we are leveraging adjacent synergies to unlock new growth avenues.”
“This collaboration also aligns with the Government’s vision by promoting local manufacturing, reducing import dependence, and supporting environmentally responsible alternatives,” he said.
“By combining Coromandel’s manufacturing strength with Sakarni’s market leadership, we aim to deliver high-quality, eco-friendly gypsum solutions that meet the evolving needs of India’s housing and infrastructure sectors,” he added.
Published – May 14, 2025 08:14 pm IST
