NAN GreenMet, Chile's Enaex collaborate to set up Rs 750-cr explosives manufacturing facility

New Delhi: Critical minerals and advanced manufacturing platform NAN GreenMet on Monday said it has partnered with Chile-based global blasting solutions major Enaex to set up an integrated explosives manufacturing plant in India with an investment of Rs 750 crore.

Commercial operations at the upcoming facility are expected to commence in 2027, the company said in a statement.

The development assumes significance in the wake of India's rapidly expanding explosives market, which is estimated to reach USD 1.7 billion by 2030 and USD 2.7 billion by 2035, driven by rising mineral production and large-scale infrastructure development.


The joint venture is also eyeing a USD 300 million revenue opportunity, driven by growing demand from the country's mining and infrastructure sectors.

"NAN Enaex, the 50:50 joint venture between NAN GreenMet and Chile-based blasting solutions company Enaex SA, is entering the Indian market in 2027, with an initial investment of Rs 750 crore to establish an integrated explosives manufacturing facility," the company said.

The joint venture entity will offer state-of-the-art emulsion explosives, electronic detonator systems, mine-to-mill optimisation services and digital and AI-enabled tools for mining, quarrying and civil infrastructure projects. Its focus will extend beyond explosives supply to improving blast precision, operational safety, productivity and control over the impact of blasting on surrounding areas.

Enaex is a provider of blasting solutions with an international presence across the world's key mining markets. The company has direct operations in North and South America, Europe, Africa and Oceania, with leading positions in countries such as Chile, Peru, Brazil and South Africa.