Indian Chemical News (ICN), the most credible online media platform for Chemicals, Petrochemicals, and Energy sector, is organizing a virtual session on "EPC: Focusing on New Innovations" on July 22, 2022 in the second edition of ‘NextGen Chemicals & Petrochemicals Summit 2022’. 

The two-day virtual Summit is organised on July 21-22, 2022 and the main theme is "Driving Sustainable Growth." One can register as a delegate for the virtual session by clicking on the link (https://www.indianchemicalnews.com/nextgen-chemical-and-petrochemical-summit-register )

The speakers for the virtual session are: Milind V. Baride, India EPC Projects Vice President, Tecnimont Pvt. Ltd.; Snighdo Majumdar, Executive Director, Engineers India Ltd.; Parag Chepe, Chief Engineering Officer & Executive Director - Engineering, thyssenkrupp Industrial Solutions Pvt. Ltd.; and Pravin Prashant, Editor Indian Chemical News.

The consolidation of global Chemicals, Petrochemicals, Oil & Gas and emergence of Hydrogen energy, has increased the role of Engineering, Procurement, and Construction (EPC) and Project Management Services and their importance cannot be undermined. Currently, there are more than 20,000 chemical manufacturing sites operational in the world. Data suggests that around 1,558 planned and announced petrochemical projects are slated to come online by 2030, primarily in Asia and the Middle East.

This offers a great opportunity for EPC and Project Management Services. These facilities rely on materials and application expertise, deep understanding of detailed Chemicals and Petrochemicals systems, and extensive product, and service offerings.

“With India aiming to become a global manufacturing hub for Chemicals and Petrochemicals, many companies are coming up with new plants in the country. These projects will need EPC specialists to handle the projects. India needs to evolve to meet the international norms for EPC to be a part of the broader plan,” said Pravin Prashant, Editor, Indian Chemical News.

There is a requirement for EPC in all dimensions of the chemical industry in India as usage of chemicals derived end-products is expected to grow fast. We need to ensure that our R&D capabilities match global standards, and we can patent the required technological processes. Today, a huge amount of chemical EPC is driven by licensed technological processes from global majors thus creating a huge royalty outflow/cost inflation.

The key discussion points for the EPC virtual session are: Encouraging companies to enter into EPC-LSTK segment; Focusing on Sustainable Technologies; Keeping a balance between Cost and Sustainability; New innovations changing overall EPC dynamics; Adapting with respect to the new requirements; and Focusing on quick turnaround time for new R&D technologies.