Vishnu Chemicals & DCX Chrome Form 50/50 JV for Greenfield Chromium Plant in Vizag
Vishnu Chemicals and France's DCX Chrome have formed a 50/50 joint venture to set up a greenfield chromium metal plant in Visakhapatnam, India. The facility will have a capacity of 6,000 MTPA, aiming to reduce import reliance and serve aerospace, defense, and energy sectors. This strategic partnership combines VCL's manufacturing strength with DCX's technology.
The joint venture involves setting up a new greenfield plant with significant capacity for a strategic material (chromium metal), directly impacting the company's market position, India's industrial capabilities, and supply chain security for key sectors.
The announcement details a strategic joint venture to establish a new manufacturing facility, which is a positive development for the company's growth and India's self-reliance in a critical material.
Vishnu Chemicals Limited (VCL) has entered into a definitive Joint Venture Agreement (JVA) with DCX Chrome SAS, France (DCX) to establish a new greenfield manufacturing facility in Visakhapatnam (Vizag), Andhra Pradesh, India.
Both companies will hold an equal 50% equity stake in the joint venture, which will focus on producing high-purity chromium metal. The plant is engineered with a substantial installed capacity of 6,000 MTPA (Metric Tonnes Per Annum). This strategic partnership aims to leverage DCX's proprietary process technology and VCL's expertise as India's market leader in chromium chemicals. The initiative is expected to address India's reliance on imported chromium metal, thereby enhancing supply chain security for strategic sectors like aerospace and defense, and catering to the growing demand in aviation, nuclear energy, and oil & gas industries.
The project is projected to generate high-skilled employment in the Visakhapatnam region, contributing to Andhra Pradesh's industrial development. VCL's Chairman & Managing Director, Mr. Krishna Murthy Cherukuri, highlighted the JV's role in expanding VCL's specialty chemicals footprint and contributing to India's self-reliance. Mr. Siddartha Cherukuri, Joint Managing Director, emphasized the synergy between VCL's domestic leadership and DCX's metallurgical expertise. Mr. Fernando Accioly, CEO of DCX Chrome, expressed pleasure in partnering with Vishnu Chemicals to establish a state-of-the-art facility, combining world-class technology with robust operational excellence.
Vishnu Chemicals Limited is a leading specialty chemical manufacturer with a revenue of over ₹1,600 crore, specializing in Chromium, Barium, and Strontium chemicals. DCX Chrome SAS is a global pioneer in high-purity aluminothermic chromium metal, a subsidiary of France's Delachaux Group, with over 80 years of industrial manufacturing heritage.
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Vishnu Chemicals Limited filed this with the NSE as a statutory disclosure, categorised under joint ventures. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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