Deepak Fertilisers' Australian arm to invest Rs 160 to boost mining chemicals biz
Platinum Blasting Services is expected to strengthen its technical ammonium nitrate (TAN) business as Australia has about 2 million tonnes per annum of expanding TAN market
BS B2B Bureau B2B Connect | Pune
On September 5, 2014, Smartchem Technologies Limited, the wholly-owned subsidiary of Deepak Fertilisers & Petrochemicals, announced the formation of Platinum Blasting Services Pty Ltd as its overseas venture for mining services in Brisbane, Australia. Formation of the Australian arm is a part of the forward integration initiative of Smartchem Technologies, which is one of the India's leading manufacturers of mining chemicals.
Platinum Blasting Services has been formed as a joint venture with local Australian partners, who have vast experience in providing value added blasting services and operation expertise to the mining and explosives industries in Australia. “Smartchem Technologies will hold 65% while the local partners will hold 35% in the joint venture. The local partners collectively bring over 80 years of domain knowledge to the venture,” said a company press release.
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Platinum plans to develop a full service offering including technical ammonium nitrate supplies; storage and logistics; manufacturing of emulsion; blast design and technical support; and down-the-hole services.
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First Published: Sep 08 2014 | 4:28 PM IST