AkzoNobel and Atul have signed a Letter of Intent (LoI) to explore the feasibility of setting up a manufacturing joint venture (JV) for the production of monochloroacetic acid (MCA) in India. The two companies are planning to install a world scale MCA plant at Atul’s facility in Gujarat, subject to the necessary regulatory approvals, building on Atul’s status as a leading supplier of crop protection chemicals (which uses MCA as a key raw material) and AkzoNobel’s leading global position in MCA, with plants in the Netherlands, China, Japan and the US.
The intended joint venture will use chlorine and hydrogen manufactured by Atul to produce MCA, taking advantage of Atul’s existing infrastructure and AkzoNobel’s latest eco-friendly hydrogenation technology. The proposed facility will mainly serve the Indian MCA market, as well as meeting the captive requirements of Atul.
AkzoNobel India (previously known as ICI India) is engaged in manufacturing and marketing of paints, speciality chemicals and adhesives.
Company Name | CMP |
---|---|
Asian Paints | 2808.45 |
Berger Paints India | 505.30 |
Kansai Nerolac Paint | 274.50 |
Akzo Nobel India | 2402.05 |
Indigo Paints | 1314.00 |
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