Page 140 - CW E-Magazine (13-2-2024)

Top Stories Pharmaceuticals

“Adani wants to become a global in resource trading, logistics, renew- cathodes and rods, as well as valu- PHARMA FORMULATIONS
leader in the copper business, leverag- able power, and infrastructure,” one of able byproducts such as gold, silver,
ing the Adani Group’s strong position the sources said. “Their aim is to be the selenium and platinum. Additionally, Keystonemab to set up manufacturing unit in Nagpur
in resource trading, logistics, renewable world’s largest copper smelting com- the integrated complex will produce
power, and infrastructure. They aim to plex by 2030.” sulphuric acid, a key raw material for Keystonemab, a company with an
be the world’s largest copper smelting manufacturing phosphatic fertilisers, array of business interests spanning
complex by 2030,” the PTI report quo- India’s copper imports have been detergents, pharmaceuticals, speciality from the pharmaceutical industry to
ted one of the sources as saying. consistently on the rise for the past fi ve chemicals, paper & sugar bleaching, artifi cial intelligence research, has
years as domestic production has been and water treatment. inked a Memorandum of Understanding
The report said India’s per capita unable to meet demand. In FY23, the (MoU) to set up a manufacturing unit
copper consumption is estimated at country imported a record 181-kt of KCL’s plant comes at a time when for injectables and oral tablets in the
around 0.6-kg, compared to the global copper, while exports plummeted to a Vedanta Ltd. is seeking to reopen a Mihan Special Economic Zone (SEZ)
average of 3.2-kg. record low of 30-kt, even lower than long-shuttered 400-ktpa plant at in Nagpur.
the COVID pandemic period, accord- Tuticorin in Tamil Nadu. The country’s
“Adani wants to become a global ing to the data from the government. biggest copper smelter is currently An agreement to this effect was
leader in the copper business, leverag- operated by Hindalco Industries Ltd., signed by Keystonemab’s top execu-
ing the Adani Group’s strong position KCL is likely to produce copper which also has a capacity of 500-ktpa. tives, including CEO, Mr. Tushar Satav,
in the presence of Mr. Nitin Gadkari,
Union Minister for Road Transport and
DECARBONISATION APPROACHES Highways.
Government issues pilot project guidelines for utilising The project, estimated to cost

green hydrogen in steel and shipping sectors Rs. 200-crore, is projected to generate in coming months, and the focus of emphasised Nagpur’s robust infra-
an annual revenue of Rs. 300-crore and the plant, when completed will be on structure and strategic location as key
The Government of India has come thus ensuring these plants provide direct and indirect employ- manufacturing pre-fi lled injections for advantages for the pharmaceutical
out with guidelines for pilot projects are able to participate in ment to 300, of which about 80% will export. sector. He also underscored the city’s
using green hydrogen in the steel and future global low-carbon be locals. The company is expected to immense export potential, thanks to
shipping sectors. The guidelines were steel markets. The scheme kickstart the land acquisition process Speaking at the event Mr. Gadkari facilities like a dry port.
issued by the Ministry of New & Re- will also consider green- DISTRIBUTION
newable Energy (MNRE) on February fi eld projects aiming at
2, 2024. 100% green steel. IMCD acquires remaining 30% stake in Signet

Under the National Green Hydro- The scheme will be Excipients
gen Mission, along with other initia- implemented with a total
tives, MNRE will implement pilot pro- scheme will also support pilot pro- budgetary outlay of Rs. 455-crore till Dutch distributor of speciality
jects in the steel and shipping sectors, jects involving any other innovative FY 230. chemicals and ingredients, IMCD, has
for replacing fossil fuels and fossil use of hydrogen for reducing carbon successfully completed the acquisi-
fuel-based feedstock with green hydrogen emissions in iron and steel produc- Retrofi tting ships to run on green tion of the remaining 30% shares of
and its derivatives. These pilot projects tion. hydrogen Mumbai-based distributor of pharma
will be implemented through the Mini- Two areas have been identifi ed as excipients, Signet Excipients, on the
stry of Steel (for steel) and Ministry of The scheme envisages that con- thrust areas under the pilot projects for basis of the share purchase agreement ingredient distributor and strengthens Later, in November last year, it inked
Ports, Shipping and Waterways (MoP- sidering the higher costs of green shipping: retrofi tting of existing ships of September 2020. IMCD’s footprint in the high growth and a deal to acquire two business lines
SW) (for shipping). hydrogen at present, steel plants could to enable them to run on green hydro- resilient pharma excipient distribution from CJ Shah & Company for cellulose
begin by blending a small percentage gen or its derivatives; and development In November 2020, IMCD had market,” IMCD had said then. acetate butyrate, coalescing agent,
Three areas in steel sector of green hydrogen in their processes, of bunkering and refuelling facilities in closed the acquisition of 70% stake in polyolefi n polymers, and other chem-
Three areas have been identifi ed and increasing the blending propor- ports on international shipping lanes for Signet. “The acquisition of Signet signi- IMCD has, in the recent past, taken icals primarily for paints, coatings,
as thrust areas for the pilot projects tion progressively, with improvement fuels based on green hydrogen. fi cantly strengthens IMCD’s presence in the acquisition route to grow in the adhesives and life sciences applications.
in the steel sector: use of hydrogen in in cost-economics and advancement of India and increases IMCD’s position in Indian market. In April 2023, it acquired In January this year, IMCD announced
Direct Reduced Iron (DRI) process; technology. The guidelines also note The scheme will be implemented the high-growth APAC region. It is an 100% of the shares of Tradeimpex the acquisition of 70% of Valuetree
in blast furnace; and substitution of that upcoming steel plants should be with a total budgetary outlay of important step in IMCD’s strategy to Polymers (India) Pvt. Ltd., a distributor Ingredients Pvt. Ltd. to expand its beauty
fossil fuels in a gradual manner. The capable of operating with green hydrogen, Rs. 115-crore till FY26. become a leading global speciality pharma of polymers and engineering plastics. and personal care footprint in India.

140 Chemical Weekly February 13, 2024 Chemical Weekly February 13, 2024 141

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