Visakhapatnam: Coromandel Chemicals Limited Signed Agreements on the formation of a joint venture with sakarni places for the production and sale of green building materials on phosphogypsum base.
The company is India's first major initiative to promote sustainable green construction products.
The company aims to use the rapidly growing GIPS plaster market that is due to a growing construction sector, an increasing need for affordable living space and demand for environmentally friendly, durable building materials.
While the joint venture it enables Coromandel to diversify beyond the business with core-agri-in-in business, to improve the integration hynergies and create a long-term value. For Sakarni, Allianz makes it easier to expand its product portfolio, market diversification and strengthen its leadership in the Gypsum Plaster industry.
The state -of -the -art production facility is set up in Visakhapatnam next to Coromandel's fertilizer system in order to ensure reliable availability of raw stock by plaster, which is generated as a by -product of fertilizer operation.
On this occasion, Sankarasubramanian, Managing Director and CEO of Coromandel International Limited, said: “The joint venture represents a strategic step for Coromandel in order to develop towards sustainability and circular. Local production by promoting the government's imports and supporting the environment, which promotes local production.
Phosphogypsum products have a significantly lower CO2 footprint compared to the natural plaster by avoiding mining activity, reducing environmental pollution and contributing positively to waste destinations.