As part of its plans to expand value chain in all businesses Essar Chemicals Ltd. is mulling the idea of a Joint Venture with French chemical company Akrema to set up a acrylic acid production facility in Gujarat. The two companies have signed a Memorandum of Understanding to study the feasibility of forming a 50:50 Joint Venture for production and commercialisation of acrylic acid and esters. The plant is expected to start operations by 2010. Feedstock material propylene will be supplied by Essar from its oil refinery located nearby.
The unit should be the first acrylic acid plant to be built in India and would serve the fast growing acrylic market in this part of the world. Its location would be suitable to supply to both the Indian and Asian markets.
23-Jan-07 
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