Key Details of Joint Venture

  • Vishnu Chemicals Limited (VCL) executed a definitive Joint Venture Agreement (JVA) with DCX Chrome SAS, France (DCX) on September 8, 2026.
  • The JV will establish a new greenfield manufacturing facility in Visakhapatnam (Vizag), Andhra Pradesh, India.
  • Equity structure: 50% stake by Vishnu Chemicals Limited and 50% stake by DCX Chrome SAS.
  • Installed capacity: 6,000 Metric Tonnes Per Annum (MTPA) dedicated to producing high-purity chromium metal.

Strategic Rationale

  • Technology & Know-How Transfer: DCX will provide proprietary process technology for manufacturing to meet global aerospace standards.
  • Raw Material Supply: VCL, as India's market leader in chromium chemicals, will provide uninterrupted supply of chrome oxide green to the JV.
  • Import Substitution: Addresses India's reliance on imported chromium metal for strategic aerospace and defense programs.
  • Market Access: Targets high-growth end markets including global aviation, nuclear energy, deep-water oil exploration, and chemical process industries.
  • Regional Development: Project will generate high-skilled engineering and operational employment in Visakhapatnam region.

Applications of Chrome Metal

  • Aerospace Turbo Reactors: High-temperature components like combustion chambers, turbine disks, blades, vanes, and casings. A single commercial aircraft engine (e.g., Airbus A320) contains approximately 250 kg of pure chrome metal.
  • Oil & Gas Drilling: Used in construction of downhole drilling tools, pipelines (Alloy 625/825), and seawater heat exchangers.
  • Other Applications: Steam superheater tubes in nuclear power plants, land-based gas turbines, and thin film materials in liquid crystal displays (LCDs).

Executive Commentary

Mr. Krishna Murthy Cherukuri, Chairman & Managing Director, Vishnu Chemicals Limited:

Described the partnership as "a significant milestone in our journey to expand our footprint in specialty chemicals and bolster India's manufacturing capabilities" and noted it contributes "directly to India's vision of self-reliance."

Mr. Siddartha Cherukuri, Joint Managing Director, Vishnu Chemicals Limited:

Characterized the collaboration as "a long-term strategic partnership designed to drive sustained growth for both organizations" and highlighted the "synergy of VCL's domestic leadership and DCX's metallurgical mastery."

Mr. Fernando Accioly, CEO, DCX Chrome SAS:

Expressed pleasure in partnering with Vishnu Chemicals and noted the combination of "world-class aluminothermic technology and over 80 years of industrial expertise with VCL's robust operational excellence and raw material supply." Stated this investment "marks an important milestone in DCX Chrome's growth strategy" and reflects "strong confidence in the long-term outlook for high-purity chromium metal worldwide."

Company Backgrounds

Vishnu Chemicals Limited:

  • Headquartered in Hyderabad, India
  • BSE: 516072, NSE: VISHNU
  • ₹1,600+ crore revenue pure-play specialty chemical manufacturer
  • India's market leader in Chromium, Barium, and Strontium chemicals
  • Operates 7 world-class manufacturing plants
  • Serves global clientele in steel, glass, pharmaceuticals, pigments, and leather industries across Asia, Europe, the Americas, and Africa

DCX Chrome SAS:

  • Global pioneer in production of high-purity aluminothermic chromium metal and specialized powders
  • Wholly owned subsidiary of France's industrial Delachaux Group
  • Over 80 years of industrial manufacturing heritage
  • Headquartered in France with manufacturing operations in the US
  • Tier-1 supplier to global aerospace, energy, superalloy, and welding sectors
  • Holds multiple ISO standards and EcoVadis Platinum Medal for sustainability