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SPECIALITY PACKAGING the use of SAF, Europe’s SAF man- transparent and standardized system grant for fossil fuel.
dates have made SAF fi ve times more for tracking SAF purchases, usage  Develop a comprehensive approach

Indorama Ventures acquires stake in packaging fi rm costly than conventional jet fuel. and associated emissions reductions to energy policy that includes SAF.
in compliance with international Firstly, advancing SAF production
EPL from Blackstone “This highlights the problem with regulations such as Carbon Offset- requires an increase in renewable
the implementation of mandates before ting Scheme for International Avia- energy production from which
Indorama Ventures Public Company sents one of the most exciting opportu- there are sufficient market conditions tion (CORSIA) and the EU Emis- SAF is derived. Secondly, it also
Ltd. (IVL), a Thailand-based chemi- nities in global packaging and chemical and before safeguards are in place sions Trading Scheme. requires policies to ensure SAF is
cal company, is investing further in the markets today, where Indorama Ven- against unreasonable market practices  The SAF Matchmaker that will allocated an appropriate portion

Indian market through the purchase of tures has natural advantages including that raise the cost of decarbonization. facilitate SAF procurement by match- of renewable energy production.
a 24.9% equity stake in EPL Ltd. from our existing footprint in diverse busi- Raising the cost of the energy transi- ing airline requests for SAF with A wholistic approach should sup-
US-based investment fi rm, Blackstone. nesses. My family’s Indian heritage is tion that is already estimated to be a supply offers. port joint use of infrastructure, co-
also an attribute as we seek to build staggering $4.7 trillion should not be production and other measures that
Indorama said the investment in close partnerships with peer companies the aim or the result of decarbonization Urgent action by Governments will benefi t the energy transition
EPL, a Mumbai-based speciality pack- term growth opportunities unlocked by in India – many of them family owned – policies. Europe needs to realize that its needed for aviation and for all other eco-
aging company, helps it to take advan- fundamental changes in global markets. to leverage our mutual scale and capa- approach is not working and fi nd an- IATA has urged governments to nomic sectors.
tage of growth opportunities in emerg- Part of the plan is to identify opportu- bilities and invest in one of the most other way,” said Walsh. focus on three areas:  Ensure the success of CORSIA as
ing markets and build on its existing nities to leverage Indorama Ventures’ dynamic economies in the world. Our  Creating more effective policies. the sole market-based mechanism to
footprint. sizeable existing manufacturing opera- stake in EPL aligns with this strategy.” IATA’s role in supporting the deve- Eliminating the disadvantage that address international aviation’s CO
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tions in India, which currently include lopment of a global SAF market renewable energy producers face emissions. IATA urges governments
At its annual Capital Markets Day in PET resins, polyester fi laments and EPL is the largest global specia- To support the development of a compared with big oil is necessary to make Eligible Emissions Units
March this year, Indorama Ventures had yarns, nonwoven fabrics, and ethylene lity packaging company, manufacturing global SAF market, IATA has worked to scale renewable energy produc- (EEUs) available to airlines. To date
outlined ambitious expansions plans. In oxide derivatives. laminated plastic tubes catering to the on two initiatives: tion in general and SAF production Guyana is the only state to have
a departure from its previous M&A-led FMCG and pharma space. EPL operates  A SAF registry managed by the in particular. This includes redirect- made their carbon credits available
model, the company is partnering with Aloke Lohia, Group CEO of in 11 countries through 21 manufacturing Civil Aviation Decarbonization ing a portion of the $1-trillion in for airlines to purchase and claim
major industry peers, to explore long- Indorama Ventures, said, “India repre- facilities. Organization (CADO) that brings a subsidies that governments globally against their CORSIA obligations.

SAF BOOST GREEN FUELS

IATA to work with ISMA and Praj on global best Honeywell and NTPC Green plan to explore SAF

practices for LCA of feedstocks production in India

The International Air Transport Asso- as guaranteed pricing, The problem with the Honeywell has signed a Memo- energy security objectives and under- Vice President and General Manager,
ciation (IATA) will be working with the capital support for new use of mandates randum of Understanding (MoU) with score’s Honeywell’s alignment to the Energy and Sustainability Solutions,
Indian Sugar & Bio-Energy Manufac- projects, and technical Most SAF is now NTPC Green to explore the production energy megatrend. Honeywell India. “Our collaboration
turers Association (ISMA) and Praj standards. heading toward Europe, of Sustainable Aviation Fuel (SAF) in with NTPC Green will leverage Honey-
Industries Ltd., to provide guidance where the EU and UK India. The companies will explore the “SAF production forms the size- well’s expertise in SAF solutions to
on global best practices for life cycle IATA expects global mandates kicked in on use of Honeywell’s proprietary eFining able part of the ambitious Green effi ciently treat emissions from thermal
assessment (LCA) of the use of feed- SAF production to reach January 1, 2025. Unac- technology to produce SAF from carbon Hydrogen Hub of NTPC Green in energy, foster green hydrogen adop-
stocks for the manufacture of Sustain- 2-mt – 0.7% of airlines’ total fuel ceptably, the cost of SAF to airlines dioxide (CO ) feedstock captured Pudimadaka, Andhra Pradesh. We believe tion, diversify feedstocks for SAF
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able Aviation Fuels (SAF) in the consumption – in 2025. “While it is has now doubled in Europe because of from NTPC’s power plants and green that the mandate in the aviation sector production and help India’s aviation
country. encouraging that SAF production is compliance fees that SAF producers or hydrogen. for blending SAF in jet fuel will drive sector meet its long-term environmental
expected to double to 2-mt in 2025, suppliers are charging. For the expected many early mover projects in green goals.”
As the third-largest global civil that is just 0.7% of aviation’s total fuel 1-mt of SAF that will be purchased to The collaboration brings together hydrogen,” said D.M.R. Panda, Executive
aviation market, India can strengthen needs. And even that relatively small meet the European mandates in 2025, Honeywell UOP’s expertise in SAF Director (Green Hydrogen), NTPC Ltd. The study, expected to be completed
its leadership in biofuels with the amount will add $4.4-bn globally to the expected cost at current market production and NTPC’s leadership by mid-2025, will support India’s
accelerated adoption of SAF through the fuel bill. The pace of progress in prices is $1.2-bn. Compliance fees are in green hydrogen projects develop- “We are excited to work with NTPC dual mission of positioning itself as a
progressive policies, according to ramping up production and gaining estimated to add an additional $1.7-bn ment, and aims to help decarboniza- Green on this initiative to advance SAF hub and achieving its emissions
IATA. This includes a target for 2% effi ciencies to reduce costs must accele- on top of market prices – an amount that tion goals and support airlines in their India’s transition towards cleaner avia- reduction goals by building a pathway
SAF blending for international fl ights rate,” said Willie Walsh, IATA’s Direc- could have abated an additional 3.5-mt effort to meet carbon reduction targets. tion fuels and goal of working toward toward promoting the production and
by 2028 with enabling policies such tor General. of carbon emissions. Instead of promoting The agreement further supports India’s carbon neutrality,” said Ranjit Kulkarni, export of SAF to other regions.

130 Chemical Weekly June 10, 2025 Chemical Weekly June 10, 2025 131

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