Sumitomo Chemical signs propylene oxide deal with Indian firm
NEW DELHI, NNA - Sumitomo Chemical Co. has signed a deal to license its propylene oxide production technology to India's state-run Bharat Petroleum Corp. to meet growing demand for motor vehicle parts.
The Japanese company's technology will be used to manufacture propylene oxide, a material for car seat cushions, a Sumitomo Chemical spokesman told NNA on Monday after an announcement on the licensing deal.
Bharat Petroleum is engaged in a large-scale petrochemical project in Kochi in the southwestern coastal state of Kerala, including the construction of a propylene oxide and polyols plant with an annual production capacity of 300,000 tons.
Sumitomo Chemical said the new accord marks its third propylene oxide technology licensing deal with a foreign partner, after those with South Korea's S-Oil Corp. and a subsidiary of Thailand's PTT Global Chemical Public Co.(NNA/Kyodo)