Coromandel International and Sakarni Plaster Establish Joint Venture for Sustainable Building Materials

Coromandel Chemicals Ltd, a subsidiary of Coromandel International Ltd, has partnered with Sakarni Plaster India Pvt Ltd. This joint venture focuses on manufacturing and selling Phospho Gypsum-based eco-friendly building materials. The collaboration allows Coromandel International to expand beyond its agricultural inputs business, enhancing integration synergies and creating long-term value.

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Strategic Expansion and Market Diversification

For Sakarni Plaster, this partnership broadens its product range and market reach while strengthening its position in the gypsum plaster industry. Based in Delhi, Sakarni Plaster is known for producing and supplying Plaster of Paris, wall putty, and renovation products for both interiors and exteriors. The joint venture will establish a modern manufacturing facility in Visakhapatnam near Coromandel International's fertilizer plant, ensuring a steady supply of feedstock.

The collaboration aligns with Coromandel's sustainability goals by transforming industrial by-products into green construction materials. "By creating value from industrial by-products and diversifying into green construction materials, we are leveraging adjacent synergies to unlock new growth avenues," stated S Sankarasubramanian, Managing Director and CEO of Coromandel International Ltd.

Government Support for Sustainable Initiatives

The joint venture supports India's push for self-reliance in raw materials and responsible waste management. This initiative aligns with the Department for Promotion of Industry and Internal Trade's circular economy roadmap. By combining Coromandel's manufacturing capabilities with Sakarni's market expertise, the partnership aims to provide high-quality, eco-friendly gypsum solutions for India's housing and infrastructure sectors.

Sankarasubramanian added that the collaboration aims to meet the evolving needs of these sectors by delivering sustainable solutions. The strategic move not only advances Coromandel's sustainability objectives but also contributes to the circular economy by utilizing industrial by-products effectively.

This partnership marks a significant step for both companies in promoting sustainable building practices. By leveraging their respective strengths, they aim to make a substantial impact on the construction industry while supporting government initiatives for environmental responsibility.

With inputs from PTI