The joint venture represents a monumental milestone in strengthening India’s domestic capabilities for advanced engineering materials that are currently almost entirely imported, the company said in a statement.
Both companies will hold an equal 50 per cent equity stake in the proposed joint venture company. The proposed equity share paid-up capital at the time of incorporation shall be Rs 1 lakh and the companies will contribute in equal proportion based on funding requirements, the company said in a stock exchange filing.
Vishnu Chemicals is a specialty chemical manufacturer, while DCX Chrome SAS, is a pioneer in the manufacturing of high-purity aluminothermic chromium metal and specialized chromium powders.
Applications of Chrome metal include Aerospace Turbo Reactors, Oil & Gas Drilling and Other Advanced Frontiers.
The joint venture secures access to DCX’s proprietary process technology, enabling domestic manufacturing to meet stringent global aerospace standards, the company said.
Vishnu Chemicals will provide uninterrupted, reliable supply chrome oxide green to the proposed joint venture company.
Establishing a domestic plant addresses India’s reliance on imported chromium metal, guaranteeing supply chain security for strategic aerospace and defense programs, the company said.
The joint venture positions both partners to capitalize on the long term demand in the global aviation, nuclear energy, deep-water oil exploration, and chemical process industries, it said.
The project will generate high-skilled engineering and operational employment in and around Visakhapatnam, directly advancing Andhra Pradesh’s industrial development goals.
“This partnership marks a significant milestone in our journey to expand our footprint in specialty chemicals and bolster India’s manufacturing capabilities in the sector. By joining forces with DCX Chrome, we are not only advancing our strategic growth but also contributing directly to India’s vision of self-reliance,” Krishna Murthy Cherukuri, Chairman & Managing Director, Vishnu Chemicals said.
“We view this collaboration not merely as a joint venture, but as a long-term strategic partnership designed to drive sustained growth for both organizations for years to come. The synergy of Vishnu Chemicals domestic leadership and DCX’s metallurgical mastery creates an unbeatable platform for high-performance chemicals manufacturing,” Siddartha Cherukuri, Joint Managing Director, Vishnu Chemicals, said.
“This joint venture combines our world-class aluminothermic technology and over 80 years of industrial expertise with Vishnu Chemicals robust operational excellence and raw material supply,” Fernando Accioly, CEO, DCX Chrome SAS, said.
“By partnering with Vishnu Chemicals, we are combining complementary strengths to create a world-class manufacturing platform capable of serving the evolving needs of our customers across the globe. This investment marks an important milestone in DCX Chrome’s growth strategy and reflects our strong confidence in the long-term outlook for highpurity chromium metal worldwide,” he said.
