Latest news with #PhosphoGypsum-based
Hans India
14-05-2025
- Business
- Hans India
Coromandel Chemicals Enters Joint Venture with Sakarni Plaster for Phospho Gypsum-Based Green Building Materials
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. 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.'
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Business Standard
13-05-2025
- Automotive
- Business Standard
Highlights: Echoes of Operation Sindoor's success heard across the globe, says PM Modi
New Delhi 9:28 PM Harvard loses another USD 450 million in grants in escalating battle with Trump administration President Donald Trump's administration is cutting another USD 450 million in grants to Harvard University a day after the Ivy League school pushed back against government allegations that it's a hotbed of liberalism and antisemitism. In a letter to Harvard on Tuesday, a federal antisemitism task force said Harvard will lose grants from eight federal agencies in addition to USD 2.2 billion that was previously frozen by the Trump administration. The letter said Harvard has become a 'breeding ground for virtue signalling and discrimination' and faces a 'steep, uphill battle' to reclaim its legacy as a place of academic excellence. 9:02 PM Coromandel International's subsidiary forms joint venture with Sakarni Plaster Coromandel Chemicals Ltd, a wholly owned subsidiary of Coromandel International Ltd, formed a joint venture with Sakarni Plaster India Pvt Ltd for the manufacturing and sale of Phospho Gypsum-based green building materials, a top official said. The joint venture will enable Coromandel International to diversify beyond its agri-inputs business, enhance integration synergies, and create long-term value. For Sakarni Plaster, the alliance facilitates the expansion of its product portfolio, market diversification, and reinforces its leadership in the gypsum plaster industry. Delhi-headquartered Sakarni Plaster is a manufacturer, exporter, and supplier of Plaster of Paris, wall putty, and building exterior and interior renovation products. 7:42 PM India-UK FTA augurs well for JLR, future cars expected to benefit: Tata Motors Group CFO The India-UK free trade agreement augurs well to keep driving JLR's performance in India as it would benefit future cars and enable customers to access global cars and global prices much faster, Tata Motors Group CFO PB Balaji said on Tuesday. On the other hand, further details and clarifications are needed to fully understand the impact on JLR after the US-UK trade deal that reduced US trade tariffs on auto exports from the UK to 10 per cent from 27.5 per cent within a quota of 1 lakh vehicles, Balaji said in an earnings call. "As far as India-UK FTA is concerned, it is a great development and augurs well for the same time, we also wait when the FTA actually comes into force, but we believe this is going to benefit the future cars that are going to come, which means customers will be able to access these global cars and global prices much faster because of this FTA," he said. 7:36 PM Pakistan's Balochistan appoints first Hindu woman Assistant Commissioner Kashish Chaudhary, a 25-year-old Pakistani Hindu woman, has made history by becoming the first female from the minority community in Balochistan to be appointed as Assistant Commissioner in the restive province. Kashish, who hails from the remote town of Noshki in district Chagai in the province, qualified Balochistan Public Service Commission (BPSC) examination. On Monday, Kashish, accompanied by her father Girdhari Lal, met Balochistan Chief Minister Sarfaraz Bugti in Quetta and told him that she would work for the empowerment of women and minorities, and the overall development of the province. 'It is a matter of great pride for me that my daughter has become an assistant commissioner due to her hard work and commitment,' Lal told the media. Lal, a mid-level trader, said his daughter had always dreamed of studying and doing something for her women. Chief Minister Bugti said it was a matter of pride for the nation when members of the minority communities got to key positions due to their hard work and effort. 'Kashish is a symbol of pride for the nation and Balochistan,' he said. In recent years, women from the Hindu community have achieved notable success in generally male-dominated fields in Pakistan, overcoming many cultural, religious and social hurdles to get to important positions. 7:04 PM Tesla's refresh to best-selling Model Y SUV starts on rocky road Tesla investors had pinned their hopes on a refresh of the company's flagship compact SUV to reinvigorate sales. But rock-bottom financing deals for the Model Y and its easy availability suggest that this expectation is unrealistic. The electric vehicle maker is offering financing deals as low as 0% on the spanking new version of the Model Y. While other automakers including Kia and General Motors are offering similar deals on some EV models, such offers within weeks of a model rolling out are rare. 6:48 PM Trump envoys Witkoff and Kellogg to go to Turkey for Russia-Ukraine talks President Donald Trump's senior envoys Steve Witkoff and Keith Kellogg will travel to Istanbul for potential talks on Thursday on how to end Russia's war in Ukraine, three sources familiar with the plans said on Tuesday. However, a senior U.S. official said it was unclear whether anyone from the Russian government would show up. The White House, State Department, National Security Council and a spokesperson for Witkoff did not immediately respond to a request for comment. President Volodymyr Zelenskiy will only attend the talks this week if Russia's Vladimir Putin is also there, an aide to the Ukrainian leader said on Tuesday, challenging the Kremlin to show it is genuine about seeking peace. 6:37 PM Russia launches smallest nighttime attack on Ukraine in months in run-up to possible peace talks Russia launched 10 Shahed and decoy drones at Ukraine in nighttime attacks, the Ukrainian air force said Tuesday, in its smallest drone bombardment this year as the warring countries prepare for possible peace talks in Turkiye. The Kremlin hasn't directly responded to Ukrainian President Volodymyr Zelenskyy's challenge for Russian leader Vladimir Putin to meet him in person at the negotiating table in Istanbul on Thursday. Kremlin spokesman Dmitry Peskov refused for the second straight day Tuesday to tell reporters whether Putin will travel to Istanbul and who else will represent Russia at the potential talks. 'As soon as the president considers it necessary, we will make an announcement,' Peskov said. 5:58 PM Anand Rathi Share and Stock Brokers pays Rs 90.2 lakh to Sebi to settle regulatory violations Anand Rathi Share and Stock Brokers Ltd on Tuesday settled with markets regulator Sebi a case pertaining to alleged violations of stock brokers' norms on payment of Rs 90.2 lakh. The order came after the broking company filed an application with Sebi proposing to settle the violations "without admitting or denying the findings of facts and conclusions of law" through a settlement order. Anand Rathi Share and Stock Brokers remitted the settlement amount of Rs 90.2 lakh. 5:52 PM Tamil Nadu CM Stalin, AIADMK hail Pollachi case verdict Tamil Nadu Chief Minister M K Stalin and main opposition AIADMK on Tuesday welcomed a local court sentencing nine men to life imprisonment till death in the sensational Pollachi sexual assault and extortion case. The Coimbatore Mahila Court, which convicted and sentenced the nine, also ordered compensation of Rs 85 lakh to the women victims. "Justice has been served for the atrocities committed by the wicked criminals including the AIADMK functionary," the Chief Minister said reacting to the verdict. 5:24 PM GlaxoSmithKline Pharma reports profit rise on strong demand India's GlaxoSmithKline Pharmaceuticals reported a higher fourth-quarter profit on Tuesday, led by steady demand for its generic drugs. The Indian unit of British drugmaker GSK reported consolidated profit of 2.63 billion rupees ($30.86 million) in the quarter ended March 31, up 35% year-on-year. Its revenue from operations climbed about 5% to 9.74 billion rupees. GlaxoSmithKline Pharma has been benefitting from rising market share for its antibiotic Augmentin and respiratory drugs Nucala and Trelegy. Strong demand for its shingles vaccine, Shingrix, has also boosted earnings, the company said. 4:39 PM Turkey says it is closely monitoring PKK disbandment to secure peace Turkey is closely monitoring any attempts to undermine its peace initiative with the PKK, a senior official said Tuesday, following the militant Kurdish group's announcement that it is dissolving and ending its decades-long armed conflict with the Turkish state. The PKK, designated as a terrorist organisation by several, announced the historic decision on Monday months after its imprisoned leader called for the group to formally disband and disarm 4:34 PM Goyal to lead team of officials to Washington for trade talks from May 16 Commerce and Industry Minister Piyush Goyal will lead a team of senior Indian officials to Washington starting May 16 for discussions with their US counterparts on the proposed bilateral trade agreement (BTA), an official said on Tuesday. Goyal is expected to hold meetings with US Trade Representative (USTR) Jamieson Greer and US Commerce Secretary Howard Lutnick during his visit. 4:31 PM Retail inflation dips to 3.16% in April; lowest since July 2019 India's retail inflation fell to 3.16 per cent in April, down from 3.34 per cent in March. India's wholesale price index (WPI)-based inflation for April 2025 will be released on Wednesday.
