Page 144 - CW E-Magazine (21-11-2023)

Top Stories

recycling. “We believe a forum like this pative to the initiative. “The aware- and the practice of Green Chemistry.
can enable community-wide action. ness phase is over and the focus is This year the organisers received 103
Wholehearted participation of all of us now on accelerating the incorporation applications and 59 case-studies, from
is urgently needed.” of Green Chemistry in the industrial which 16 were shortlisted in eight cate-
sector,” he added. gories. At the inaugural session, the
‘Focus is now on implementation’ top 3 nominees in each category were
Mr. Nitesh Mehta, the man behind IGCW Awards presented announced as winners and felicitat-
the event, dwelt on the developments The prestigious ‘IGCW Green ed. The winners from the Academia
in the convention since it was fi rst Chemistry Awards’ were conferred to and Students Categories were also
held 15 years ago. The Green Chemis- students, academicians, researchers, given cash prizes of Rs. 100,000 and
try movement, in his view, has come a as well as companies (large, medium Rs. 50,000 respectively, as a token
long way in India, and industry is now and micro) to recognise and encour- of encouragement to further their
much more responsive and partici- age research advancements, initiatives research project.

POLICY FORMULATION
‘Proposed PLI scheme for chemicals may cover

agrochemicals, pharma intermediates’
The proposed Production Linked Key parameters ernment was open to introducing a PLI
Incentive (PLI) scheme for the chemi- The government is now seeking scheme for investments in the chemi-
cal sector could have a focus on agro- inputs from the industry in areas such cals and petrochemicals sectors to
chemical intermediates, pharmaceutical as the proposed minimum capacity of reduce the industry’s reliance on imports.
intermediates, dyes, and multiple-use each chemical for PLI; the minimum In line with the policy of ‘Atmanirbhar
chemicals, to increase the cost competi- production in initial year for being Bharat’, the Centre formulated the PLI
tiveness of manufacturers, a report in eligible to claim incentive; the raw Schemes for 14 key sectors, with an
the Hindu BusinessLine stated quoting material and technology availability for outlay of Rs. 1.97-lakh-crore.
unnamed sources. production of identifi ed chemicals; and
R&D investment calculation. “The The sectors included mobile manu-
“The discussions for a PLI scheme idea is to ensure that the parameters of facturing, drug intermediates and APIs,
for the chemical sector are progressing the PLI scheme for the chemicals sec- medical devices, automobiles & auto
fast and four sectors, covering about 26 tor are such that it is feasible for the parts and pharmaceuticals, among others.
basic chemicals, have been tentatively industry to meet it. That is how ade- However, with a substantial part of the
identifi ed. These will help prop up the quate investments can be attracted,” the Rs. 1.97-lakh-crore still unutilised, the
entire chemicals sector as input costs source said. In July, Finance Minister government is mulling extending the
would come down,” the report said. Nirmala Sitharaman had said the gov- benefi ts to other sectors as well.

PROJECT ACTIVITY
Tuticorin Alkali plans to double capacity for soda

ash and ammonium chloride

Tuticorin Alkali Chemicals and of soda ash capacity, taking its total Rs. 89.58 crore in Q2FY2024, largely due
Fertilizers Ltd. (TFL) is embarking on capacity to 225-ktpa, and raise ammo- to a decline in prices. Profi t Before Tax
a capacity expansion project for soda nium chloride capacity from 85-ktpa to stood at Rs. 19.07-crore in Q2FY2024
ash and ammonium chloride journey to 153-ktpa. (Rs. 20.64-crore), marking a decrease of
be funded by borrowings and internal 7.6%. EBITDA margins however regis-
accruals, and scheduled for completion Revenues down tered a 370 basis points (bps) increase,
in September next year. Meanwhile the company has climbing to 22.78% from 19.09% in
reported a 25% decline in revenues Q2FY2023. Debt reduction played a
The company plans to add 125-ktpa from Rs. 119.48-crore in Q2FY2023, to pivotal role in this positive development.

144 Chemical Weekly November 21, 2023

Contents Index to Advertisers Index to Products Advertised