N.A.N. Enaex Invests ₹750 Crore in India’s Explosives Market, Targets $300 Million Revenue

N.A.N. Enaex, a 50:50 joint venture between N.A.N. GreenMet and Chile-based Enaex S.A., plans to enter the Indian market in 2027. The company will initially invest ₹750 crore to set up an integrated explosives manufacturing facility in India. It expects the Indian market to contribute around 10% of its global sales in the medium term, generating approximately $300 million in revenue.

The joint venture will provide emulsion explosives, electronic detonators, mine-to-mill optimisation services and digital tools powered by AI. These solutions will be used in mining, quarrying and infrastructure projects. Beyond supplying explosives, the company aims to improve blasting accuracy, workplace safety and operational efficiency while reducing the impact of blasting on nearby areas.

India’s explosives market is estimated to reach $1.7 billion by 2030 and $2.7 billion by 2035. Demand is being driven by expanding mineral production and large-scale infrastructure development. India is targeting 300 million tonnes of steelmaking capacity by 2030, while selected mining segments are projected to grow by 12–15% annually. The country also has a pipeline of more than 1,300 tunnels spanning 3,600 km across hydropower, railways, roads and metros, supported by the government’s ₹12.2 lakh crore capital expenditure allocation for FY2026-27 and 500 GW non-fossil electricity capacity target for 2030.

Enaex is a provider of blasting solutions with a 100-year history and a well-established international presence across the world’s most important 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.

N.A.N. Enaex’s technology portfolio includes proprietary DaveyTronic electronic initiation systems, digital blast design and monitoring tools, and mine-to-mill optimisation services. These technologies are designed to improve fragmentation and blast control, helping customers increase productivity, reduce downstream processing costs and manage vibration and other environmental impacts.

Early discussions with leading Indian mining companies have been encouraging, revealing a clear appetite for technology-led blasting solutions over conventional explosives supply. Customers are seeking greater productivity, lower costs, improved safety and reduced environmental impact, especially near residential communities.

N.A.N. Enaex is bringing its first manufacturing unit strategically located close to customers and industrial infrastructure in Eastern India with phase 1 capacity of 150,000 tonnes of emulsion explosives and one million electronic detonators.

Annanya Agarwal, Co-founder and Director, N.A.N. GreenMet, said: “India is investing heavily in civil infrastructure, from hydropower and tunnelling to highways and railways, alongside the expansion of its mining sector. These projects need better technology, higher safety standards and more efficient operations. Our early conversations with customers have made it clear that the market is ready for this change. With Enaex, we have a partner with a strong global track record in product quality, technology and safety. Our investment is aimed at building a substantial Indian manufacturing and technology business, close to our customers and provide end-to-end reliable products and services to large infrastructure and mining operations.”

Juan Andrés Errázuriz Domínguez, CEO, Enaex, said: “India is undertaking infrastructure projects of a scale and complexity that demand a different approach to blasting. In our experience across some of the world’s largest mining markets, the real gains come from getting the blast right the first time, with greater precision, better fragmentation and tighter control. That is where technology makes a measurable difference to productivity, costs and safety. We have spent more than 100 years developing these capabilities, and through N.A.N. Enaex, we intend to bring that experience to India’s most challenging mining and infrastructure projects.”

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