Jayant Agro to form JV with Japanese companies

The Mumbai-based oleochemical company, Jayant Agro Organics Ltd, and two Japanese firms - Mitsui Chemicals Inc and Itoh Oil Chemicals Co Ltd - have entered into a joint venture agreement for investing in the equity shares of Vithal Castor Polyols Pvt Ltd in the ratio 50:40:10 respectively. The JV will be focused on manufacturing castor oil based polyols.

This is a second deal announced by Jayant Agro Organics this year. In April 2013, Jayant Agro entered into an agreement with Arkema, a French chemical company, to form a strategic joint venture through its subsidiary Ihsedu Agrochem Pvt Ltd (Ihsedu). According to the JV agreement, Arkema will acquire around 25% equity stake in Ihsedu. The JV aims to develop castor oil production, which will provide Arkema long term, secure and competitive access to the strategic raw material for the manufacture of its bio-sourced polyamides.