Coromandel Chemicals Limited, a wholly-owned subsidiary of Coromandel International Limited, 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 Joint Venture enables Coromandel to diversify beyond its core agri-inputs business, enhance integration synergies and create long-term value. For Sakarni, the alliance facilitates expansion of its product portfolio, market diversification and reinforces its leadership in the gypsum plaster industry.
Aligned with the Circular Economy initiative of the Government of India, this venture is India’s first large-scale initiative to promote sustainable Green Building Products. The joint venture aims to capitalize on the rapidly expanding gypsum plaster market, driven by a growing construction sector, the rising need for affordable housing and demand for eco-friendly, durable building materials. Phospho Gypsum products have a significantly lower carbon footprint compared to natural gypsum by avoiding mining activity, reducing environmental load and contributing positively towards waste to wealth goals under Circular Economy framework.
The Joint Venture also complements the Government of India’s push towards import substitution, self-reliance in raw materials and responsible waste management as articulated under the DPIIT’s circular economy roadmap.
The state-of-the-art manufacturing facility will be established by the Joint Venture in Visakhapatnam, adjacent to Coromandel’s fertilizer plant, ensuring reliable feedstock availability through gypsum generated as a by-product from fertilizer operations.
Mr. S Sankarasubramanian, Managing Director and CEO of Coromandel International Limited, stated: “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 Atmanirbhar Bharat vision by promoting local manufacturing, reducing import dependence, and supporting environmentally responsible alternatives. 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.”