Coromandel International JV with Sakarni Plaster for Green Building Materials

Chennai, May 13 (PTI) 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.

Following the joint venture, a state-of-the-art manufacturing facility will be established in Visakhapatnam, adjacent to the fertilizer plant of Coromandel International Ltd, ensuring feedstock availability, the company said in a statement on Tuesday.

"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," said Coromandel International Ltd Managing Director and CEO S Sankarasubramanian.

"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.

The joint venture also complements the Government of India's push towards self-reliance in raw materials and responsible waste management, as outlined in the Department for Promotion of Industry and Internal Trade (DPIIT)'s circular economy roadmap, the statement said.