In 2008, Mitsui Chemicals India Private Limited, a subsidiary of the Japan-based Mitsui Chemicals Group, was established with the mission of utilizing chemical technology to support socio-economic development in India while accomplishing organizational growth and innovation goals. In order to deliver high-quality goods and services in the areas of life healthcare, mobility, ICT, and basic green materials solutions, Mitsui Chemicals India makes use of the numerous talents of its 50+ workers.
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In April 2022, our business segment established the Green Sustainable Chemicals Division to lead the Group-wide shift to circular economy-based business models. We will accelerate the promotion of the green chemicals business by sharing information on the green chemicals business in each business segment and collaborating with related departments throughout the Group. We aim to leverage the business and equipment base that our business segment possesses, ranging from crackers to diverse chemicals and various polymers, to develop businesses in a wide range of fields, including biobased raw materials, plastics recycling, and CCUs.
As part of our efforts regarding bio-based raw materials, we introduced bio-based hydrocarbons for the first time in Japan in 2021 through a partnership with Neste Corporation of Finland. This received a lot of interest from customers in Japan and overseas, and we plan to introduce the third lot in October 2022. In the future, we intend to acquire ISCC certification* at other works as well to expand our bio-based products, and are also considering diversification of bio-based raw materials and alliances with other companies.
In addition, we are promoting fuel conversion of crackers as part of the efforts to become carbon neutral. By converting conventional methane to clean ammonia, we aim to reduce CO2 emissions during combustion. We plan to develop ammonia burners and test furnaces by 2026, and to develop and start operation of demonstration crackers in 2030.
With regard to mechanical recycling, in which waste plastic is reused as plastic products, through participation in J-CEP (Japan Circular Economy Partnership) and collaboration with local governments and brand owners, we have already started demonstration tests on products owned by other business segments such as performance films and sheets in the packaging field. In addition, regarding chemical recycling, which enables the recycling of waste plastics into chemical raw materials, we are actively collaborating with other companies with superior technologies, such as BASF Japan Ltd. and Microwave Chemical Co., Ltd. and aiming to speed up the social implementation.
