Page 177 - CW E-Magazine (19-3-2024)

ICC Conference 2024

Mr. Fukui pointed out that refi n- chemicals are the key priorities for
ing capacity in Japan will keep coming the industry.
down with declining population and
this would continue until 2026. Mr. Fukui described the impact of
the integrated refi nery-petrochemical
“The biggest headache the Japanese units in China that are running at over
petrochemical industry is now facing is 110% utilisation rates. He said the
olefi ns. We now have 12 naphtha crackers expansion activities in China will likely
with capacity of 6-million tonnes. Ja- continue till at least 2027-28.
pan’s net demand for ethylene is now
3.5-million tonnes, so we can shut down Speaking about collaboration with
fi ve out of the 12 naphtha crackers India, he highlighted opportunities
immediately and this rationalisation will in upstream trading for olefi ns and
keep going on,” he noted. derivatives, as well as aromatics. “Japan
can be very helpful for the fi ne chemi-
Mr. Nob Tabata and Mr. Ken Fukui In the near future, the Japanese cals sector in India. We have a bunch
by Mr. Nob Tabata, Executive Offi cer, petrochemical industry will have to of fi ne chemical producers and pro-
Chief Operating Offi cer, Chemicals deal with two issues simultaneously – ducts which can fi nd applications in
Division, Energy & Chemicals Com- decarbonisation and Sustainable Deve- the electronics, batteries, automotives
pany, Itochu Corporation, and Mr. Ken lopment Goals (SDGs). The petro- and construction. This is probably
Fukui, General Manager, Chemicals chemical industry accounts for 5% of going to be the focus areas for co-
Division, Energy & Chemicals Com- the entire CO emissions of Japan, and operation among the two countries,”
2
pany, Itochu Corporation. decarbonisation and producing green he opined.

THE WAY AHEAD
Unleashing India’s potential: China-plus-one or India

as the ‘one’

India is rapidly developing strong
pull factors with the large domestic
market, rising middle class, lower capi-
tal for putting up plants, lesser operat-
ing expenses, high quality infrastruc-
ture, strong talent base, favourable
policy regimes, discontinuation of large
number of compliance requirements,
etc. – all enhancing the ease of doing
business in the country. However,
numerous challenges still persist: limi-
ted feedstock availability; delayed
regulatory approvals; and scarcity of
skilled R&D talent. These enablers
and obstacles continue to infl uence the
market attractiveness and cost competi-
tiveness of the country. From L to R: Mr. Mukesh Malhotra, Mr. Chandrakant Nayak, Mr. Vinod Paremal, Mr. Namitesh
Roychoudhary, Mr. Alexander Gerding, Mr. Umesh Sathe, Mr. Janardhanan Ramanujalu
The conference witnessed a number focussing on the ideal roadmap for the Responding to a question on whether
of discussions featuring leaders of most Indian chemical industry to achieve its India is in the best position to take
major Indian and MNC chemical fi rms true potential. advantage of the ‘China-plus-one’

Chemical Weekly March 19, 2024 177

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