Itochu is planning to commercially launch Japan’s first food containers and packaging materials made of Renewable PP by the end of 2020.
The agreement significantly increases the supply and availability of SAF for the aviation industry with effect from October 2020.
The refinery will focus on production of renewable diesel for the aviation industry, production of bioplastics, plastics recycling, operation of two photovoltaic solar power plants.
Company has sold its 49.99% shares in Nynas AB to Bitumina Industries Ltd for an undisclosed amount.
The capacity is proposed to be expanded initially to 46,000 MT to be completed in 18-21 months and then by another 24,000 MT thereafter.
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The project will not only increase the capacity of Gujarat Refinery from 13.7 MMTPA to 18 MMTPA but would also result in integration to petrochemicals with production of 500 KTPA Polypropylene.
Manufactured at their thermoset center of excellence in the UK, the tooling material will be fully stocked in the central US, allowing for immediate order fulfillment for customers in North America.
Investment will support construction of additional production capacities for pyrolysis oil.
Company is rapidly working on implementing a number of new projects to the national plan for the period of 2020-2035.
Easing of containment measures imposed due to Covid-19 pandemic and stimulus packages are likely to increase economic activities and drive petrochemicals demand in countries like China, India and Indonesia.
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