Gujarat, India -- Vithal Castor Polyols Pvt. Ltd. a three way joint venture between Jayant Agro-Organics (50%); Mitsui Chemicals (40%) and Itoh Oil Chemical (10%) was launched on 29 August 2013, Mitsui said in a statement.
The companies intend to design, build and complete production of 8000/tone year caster-oil based renewable polyols at Vithal Castor Polyols by January 2015, Mitsui said.
Mitsui, which claims to be the world's largest producer of bio-sourced polyols, said that the new plant will make these cost competitive with traditionally produced polyols. It added that it plans to use the new polyols at its systems houses in Asia.
Mitsui said: Jayant Agro-Organics will supply raw materials derived from castor oil to the new joint venture. Itoh Oil Chemical will use by-products, co-produced in the manufacture of bio-polyol, to develop new applications and intensify existing businesses such as its urethane elastomer operations,said Mitsui.
No details of plant location or investment were available.