Enaex S.A., and N.A.N. GreenMet have signed a joint venture to develop an explosives company in India, bolstering the Chilean company’s internationalisation strategy and granting access to the market in that country.

For N.A.N. GreenMet, the alliance represents a new step in its strategy to develop large-scale industrial businesses in key sectors of the Indian economy.

N.A.N. GreenMet is one of the most prominent companies in India’s clean energy industry, focusing on developing industrial platforms in strategic sectors for the energy transition and advanced manufacturing, Enaex says. The company is developing strategic businesses in the fields of critical minerals, clean energy, battery recycling, rare earth magnets and high-value industrial solutions through global technological alliances and industrial execution in India. N.A.N. GreenMet is supporting India’s transition toward a resilient and self-reliant clean energy ecosystem, thanks to its deep understanding of the Indian ecosystem, regulatory context and execution capabilities.

For its part, Enaex will contribute its proprietary technology, technical know-how, operational and safety standards, as well as its expertise developed over more than a century in the industry. It will also actively participate in implementing the JV’s operating model and managing the technical and commercial aspects of the business.

The activities of this JV will focus primarily on developing emulsions, detonators and advanced blasting solutions – fields where Enaex is a global benchmark – focusing on high-growth industrial sectors, including infrastructure development, quarrying, iron ore and ferrous and non-ferrous metals.

Following the signing of the agreement, the Chairman of the Board of Enaex, Juan Eduardo Errázuriz, stated that the transaction reflects the conviction with which the company is executing its internationalisation strategy.

“This milestone consolidates our presence and leadership in the world’s most relevant mining regions and reinforces a strategy that combines growth, innovation and sustainability alongside a top-tier partner,” he said. “This operation will allow us to bring our proven business model and value proposition to one of the markets with the highest potential in the world.

“The fact that 64% of our revenue now comes from operations outside of Chile demonstrates the strength of our internationalisation and the company’s ability to continue generating value in an increasingly challenging local and global environment.”

For his part, Navin Agarwal, Founder and Vice Chairman of N.A.N GreenMet (also Vice Chairman of Vedanta), said: “India’s infrastructure and resource ecosystem is entering a new phase characterised by safety, precision and productivity. This joint venture with Enaex represents a major step toward developing world-class precision blasting capabilities. N.A.N. GreenMet’s execution strengths and knowledge of the industrial ecosystem and its players, combined with Enaex’s proven technology and global operating standards, will create a trusted platform to drive infrastructure and mining growth in India.”

With a 105-year track record in the market, Enaex has 20 manufacturing plants, 114 mine service plants, 461 factory trucks and provides services to major open-pit and underground mining companies. With a direct presence in Chile, Brazil, South Africa, France, Australia, Peru, the US, Colombia, Argentina and Mexico, it exports its products to more than 40 countries across five continents.