Coromandel Chemicals has formed a joint venture with Sakarni Plaster India for the manufacturing and sale of Phospho Gypsum-based green building materials.

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.   

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.    

"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.