Coromandel International’s wholly owned subsidiary -- Coromandel Chemicals (CCL) has executed joint venture agreement to set up a joint venture company (JV) with Sakarni Plaster (India) (Sakarni) for manufacture and sale of Phospho-Gypsum based products. This Joint Venture aims to capitalize on the rapidly expanding gypsum plaster market and is set to establish and grow a new, innovative category of Phospho-Gypsum-based plasters and products both across India and in export markets.
The JV will have 60% equity shareholding by CCL and 40% equity shareholding by Sakarni group. The capital contribution towards the proposed JV will be made by CCL for an amount up to Rs. 59 crore in one or more tranches.
Coromandel International is amongst India's pioneers and leading Agri solutions provider, offering diverse products and services across the farming value chain.
