Page 142 - CW E-Magazine (30-7-2024)

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TALENT SHORTAGE GROWTH TARGETS

‘Basic science and engineering critical to solve India’s IOC targets $1-trillion revenue by 2047: Chairman

economic, environmental and social challenges’ Indian Oil Corporation (IOC), the enrich our value chain,” he Joint ventures
nation’s largest oil fi rm, is targeting to said. While the fi rst phase IOC has formed a joint
The increasing diversion of basic start-up, by the fermentation of agri- to smaller environmentally footprints, become a $1-trillion company by 2047, of petchem expansions at venture with Israeli tech-
engineering and science graduates to cultural wastes. Though the process is lower capital and operating costs, and combining growth in traditional oil Panipat in Haryana and Para- nology company Phinergy
the Information Technology (IT) sec- not commercially viable at this stage, it shorter time to market. This has particular refi ning and fuel marketing with clean dip in Odisha is complete, for aluminium-air batteries
tor, a phenomenon not unique to India, represents a signifi cant innovation that emphasis to the manufacture of specia- energy avenues like green hydrogen the one at Gujarat refi nery is and with Panasonic Energy
is leading to a defi cit of talent in core has found global recognition. lity chemicals and pharmaceuticals, often and EV charging, Chairman Mr. Shri- scheduled for commission- of Japan for advanced cell
manufacturing industries, including the required in small amounts. Digitalisa- kant Madhav Vaidya said in the com- ing in 2024-25. The fi rm is manufacturing of lithium-
chemical industry, and represents a dan- The reengineering of processes at tion, Dr. Patel added, presents a great op- pany’s latest annual report. also setting up a polypropy- ion batteries in India.
gerous trend that needs to be addressed. plants within the Group through astute portunity to Indian industry to close the lene unit at Barauni refi nery.
engineering, he noted, have improved productivity gap with international peers. IOC posted a record net profi t of “With a vision to propel ‘Make in
This was stated by Dr. Aspi Patel, the sustainability profi le of operations “We are currently only passively digital Rs. 39,619-crore ($4.7-bn) on a revenue of “We are scaling up our capacity, India’ for the world, the JV plans to
Chief Technology Offi cer, Aditya Birla with signifi cant improvement in effi - or at best exploring digital.” Rs. 8.66 lakh-crore ($104.6-bn) in the targeting an increase to 13-million establish a one GWh capacity factory
Group (ABG), at a prize-distribution ciency of use of water and energy, as 2023-24 (April 2023 to March 2024) tonnes and achieving a petrochemical by 2027, with an ambitious expansion
ceremony organised by the Indian Spe- well as lowering of the intensity of waste ‘Innovative, not imitative industry fi scal. The company will continue to intensity index of 15 percent by 2030. to 5-GWh by 2031,” he said on the joint
cial Chemical Manufacturers’ Asso- generation. As an example, he cited the needed’ invest in fossil fuels and new energy By integrating petrochemicals into our venture with Panasonic.
ciation (ISCMA), for students, teachers technology-led investments that enabled Earlier, Prof. A.B. Pandit, Vice Chan- avenues to have a balanced portfolio that refi ning investments, we are expand-
and non-teaching staff at the Institute of the Nagda viscose fi bre plant of the cellor, ICT, highlighted the excellent will help achieve net-zero carbon emis- ing our product range to include niche IOC also has a joint venture with
Chemical Technology (ICT), Mumbai, ABG Group, which has a capacity of opportunities for the Indian speciality sions by 2046, Mr. Vaidya said. It will offerings like speciality chemicals and Sun Mobility Pte. Ltd. to establish one
on July 22, 2024. According to Dr. Patel, 420-tonnes per day of dope-dyed viscose chemicals industry, but urged the indus- expand oil refi ning capacity, and invest biopolymers,” he said. of the largest battery-swapping net-
application of fundamental science fi bre, to become the fi rst in the world to try to invest in application development in petrochemical units that will convert works in India by 2030. In the realm of
and engineering is required to solve be Zero Liquid Discharge. Faced with a efforts to tailor formulations to the need crude oil into value-added chemicals Green initiatives compressed bioGas (CBG), it plans to
global challenges. “New technology government mandate that required it to of customers. “The industry needs to directly, while also increasing its focus Alongside, it will pursue green ini- set up 30 CBG plants nationwide this
areas are emerging and can be deployed eliminate all liquid discharge into the graduate from being a mere imitator to on gas, biofuels and clean mobility. tiatives, including hydrogen mobility, year. On hydrogen, the fi rm is looking
for sustainable growth,” he noted. nearby Chambal river, the company in- an innovative industry that identifi es the hydrogen transportation, biofuels, elec- to convert half of its current hydrogen
“Future advances in India’s sustainable vested in appropriate technologies that pain points of the industry it serves and “With India’s economy on the rise, tric mobility, solar cooktops and mini- consumption to green by 2030.
growth, food security, health, clean ensured compliance and saved the unit comes out with viable solutions.” the energy needs of the country are mising water footprint, he said.
energy, etc. will require application of from permanent closure. “The company growing exponentially. As ‘The Energy “Our plan involves setting up green
core engineering skills.” is now evaluating similar efforts to other In his opening remarks, Mr. Yash- of India’, we have been stepping up the “In pursuit of our vision for a greener hydrogen plants across all refi neries
sites,” Dr. Patel added. want Zaveri, President, ISCMA, high- pace and expanding our capabilities. future, your company has resolved to and propelling the advent of hydrogen
Highlighting some of the innova- lighted the role of the association, which We aim to become the nation’s lead ener- consolidate its green initiatives under a mobility in the country,” the chairman
tions at ABG companies, he mentioned Process intensifi cation in the chemi- was set up in 1952 and now has 154 giser, fulfi lling 12.5 percent (1/8th) of single umbrella by setting up a wholly- noted.
the development of bacterial cellulose cal industry, he noted, is another area that members, in aiding the development of India’s energy needs by 2050,” he said. owned subsidiary Terra Clean Ltd. This
in a partnership with an Australian needs much greater focus as it can lead the Indian speciality chemicals industry. new entity will undertake low carbon, IOC is betting big on battery swap-
“Our goal to attain a revenue of new, clean, and green energy businesses,” ping solutions, particularly for the two
Air Liquide India sets up unit in Mathura one trillion dollars is set against the he said. By putting all green initia- and three-wheeler segment, with plans

The Indian arm of French industrial capacity of more than 300 tonnes of manufactured in this plant will be sup- backdrop of India’s vision to transform tives under one arm, IOC is looking to to expand this avenue for heavy-duty
gases fi rm, Air Liquide India, said a liquid oxygen and medical oxygen per plied to hospitals. “This new plant is into an economy of over $30-trillion optimise resource allocation, enhance vehicle applications. The company
manufacturing unit has been set up in day, as well as about 45 tonnes of liquid a key step in our expansion, fostering by 2047,” he added. IOC will “make innovation, and implement cutting- would, however, continue to expand
Mathura, Uttar Pradesh, with an invest- nitrogen and 12 tonnes of liquid argon growth in both industrial and health- signifi cant capital investment in both edge solutions more effi ciently. its primary fossil fuel business as it
ment of Rs. 350-crore with a view to per day, the company said in a state- care sectors throughout the region,” brownfi eld and greenfi eld expansions expects domestic oil demand to grow
expand its business. This air separation ment. Air Liquide India’s Managing Director to ensure uninterrupted energy,” Mr. The fi rm aims to enhance its re- over the next decade. It is set to add
unit (ASU) is dedicated to healthcare Mr. Benoit Renard said. Vaidya said. newable energy capacity to 31-GW by 17-million tonnes per annum (mtpa)
and industrial merchant activities in The unit will supply industrial gases 2030, primarily through solar and wind capacity, backed by expansions at
Kosi, Mathura. across Delhi Capital Territory, Western The company said the new unit is Petrochemical plans projects, Mr. Vaidya said, adding that Barauni (6 to 9 mmtpa), Panipat (15 to
Uttar Pradesh, Rajasthan, and Madhya planned to fully operate on renewable “Petrochemical integration will also IOC is integrating renewable power 25 mmtpa) and Vadodara (13.7 to 18
The unit will have a production Pradesh. The medical grade oxygen energy by 2030. be a key focus area that will greatly into its refi nery operations. mmtpa) refi neries.

142 Chemical Weekly July 30, 2024 Chemical Weekly July 30, 2024 143

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