Mitsubishi Chemical Corporation (Headquarters: Chiyoda Ward, Tokyo; President and CEO: Masayuki Waga; hereinafter "MCC") has concluded an agreement with Indian Oil Corporation Limited over the licensing of MCC's proprietary technology for manufacturing acrylic acid and acrylic acid ester.
Indian Oil Corporation Limited has been developing a project for producing petrochemicals from propylene in Dumad, India. The country's largest oil and gas company has selected MCC's technology for the process of manufacturing acrylic acid (an annual capacity of 90,000 tons) and butyl acrylate (an annual capacity of 150,000 tons) in the project.

MCC launched the development of a process for producing acrylic acid and acrylic acid ester from propylene in 1962, built the first commercial plant based on the process at the Yokkaichi in 1973, and has since continued to operate the plant to date. The process has been licensed in a total of more than 10 cases in the world.
Acrylic acid and acrylic acid ester are suitable for use in super absorbent polymers for disposable diapers, coating compositions, and adhesive agents. Global demand for these acid chemicals is growing at an annual rate of more than 5%.
MCC will actively promote licensing activity to new projects resulting from the growing global demand for petrochemicals.