Collaborating to promote sustainable green building materials
Visakhapatnam: Coromandel Chemicals Limited signed agreements to form a joint venture with Sakarni Plaster for the manufacture and sale of phosphogypsum-based green building materials.
Aligned with the circular economy initiative of the Government of India, the venture is India's first large-scale initiative to promote sustainable green building products.
The venture aims to capitalise on the rapidly expanding gypsum plaster market, driven by a growing construction sector, rising need for affordable housing and demand for eco-friendly, durable building materials.
While the 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.
The state-of-the-art manufacturing facility will be established in Visakhapatnam, adjacent to Coromandel's fertiliser plant, ensuring reliable feedstock availability through gypsum generated as a by-product from fertilizer operations.
Speaking on the occasion, S Sankarasubramanian, managing director and CEO of Coromandel International Limited, said: 'The joint venture represents a strategic move for Coromandel in advancing towards sustainability and circular economy goals. Also, the collaboration aligns with the Government's Atma Nirbhar Bharat vision by promoting local manufacturing, reducing import dependence, and supporting environmentally responsible alternatives.'
Phosphogypsum 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.
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