Indian Oil signs agreement with Mitsubishi Chemical Corporation
IndianOil signed an agreement with Mitsubishi Chemical Corporation, Japan for sourcing technology & associated services for Acrylic Acid Unit at Dumad, Gujarat. The agreement was signed by A. N. Jha, ED (Petrochemical-Projects), Business Development, Corporate Office and Masaya Nomamoto, GM, C3 Derivatives Department, Petrochemicals Business Domain, Mitsubishi Chemical Corporation, Japan in the august presence of B. V. Rama Gopal. S. M. Vaidya, ED, (Operations), RHQ and Debasish Roy, ED, (Finance), RHQ also graced the occasion with their presence.
Acrylic Acid will be used in the production of Butyl Acrylate. With currently no domestic production of Acrylic Acid and Butyl Acrylate, these products are entirely imported into India. This project is planned as a strategic move towards import substitution and further will consolidate the specialty chemical business of IndianOil.