SIPCOT Leads TN's Industrial Growth Promoting Green Technologies & Strengthening Chemical Manufacturing Ecosystem

 

"SIPCOT Leads TN's Industrial Growth Promoting Green Technologies & Strengthening Chemical Manufacturing Ecosystem" says ED, SIPCOT at CII's Chemvision 2024

"CPCL's Growth and Innovation Drive TN's Petrochemical Sector Forward"


 

Chennai, 29th November 2024: "SIPCOT plays a pivotal role in shaping Tamil Nadu's industrial landscape by fostering robust ecosystems tailored to industry needs. By driving innovation and promoting green technologies through collaboration with academia and industry, SIPCOT ensures environmental compliance while enhancing competitiveness. Strategic investments in pipelines and storage facilities streamline operations, making Tamil Nadu a preferred destination for chemical manufacturing," said Ms D Sneha, IAS, Executive Director, SIPCOT at the CII TN organized Chemvision 2024 conference today.

"The proposed Nagapattinam refinery, envisioned as a joint venture between CPCL and Indian Oil, is set to be a game-changer for the region's petrochemical industry. With the basic configuration complete and awaiting final government clearances, this refinery is expected to serve as a cornerstone for the development of a thriving petrochemical ecosystem in the area. The state is keen to develop Petroleum Chemicals Petrochemical Investment Regions (PCPIRs), with Nagapattinam being a key focus. The polymer park alongside the refinery will further enhance this vision, positioning the region as a major player in India's petrochemical future," said Mr H Shankar, MD, CPCL. 

"With a focus on transitioning from fuel-based to petrochemical production, CPCL is set to reduce import dependency and boost self-sufficiency, requiring significant investment and innovation. Collaboration with academia will be key to fostering advancements, bridging research and application, and promoting sustainable practices in the industry," he added.

"The Indian Chemical Council estimates that India's chemical industry, which was around 170 to $180 billion in 2021, contributing around 5% of India's GDP, is expected to grow to around $310 billion by 2027 and $1 trillion by 2040. Tamil Nadu's industrial ecosystem stands out as a balanced and inclusive model, with diverse contributions from manufacturing, services, and agriculture. The State's chemical industry is poised to play a pivotal role in India's journey toward becoming a global chemical powerhouse. The state's geographic and sectoral diversity, supported by excellent infrastructure, a skilled workforce, and policy continuity, positions it as a leader in economic growth," said Mr Ramkumar Shankar, MD, Chemplast Sanmar Ltd.

The conference had four panel discussions on Investment Opportunities and Infrastructure Advantages for Chemical Sector in Tamil Nadu, Chemical Industry-The Great Cross-linker & Growth Base for Sunrise Industries, Sustainability and Safety in Chemical Industry and Capability Building for Chemical Sector in Tamil Nadu.

 

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