Latest News | Mitsubishi Chemical Plans to Join Supply Chain Link in Semiconductor, EV Sectors in India

Kolkata, Mar 12 (PTI) Mitsubishi Chemical Group of Japan has evinced interest in entering the supply chain link in the semiconductor and electric vehicles sectors in India.

There are plans to set up a project catering to the supply chain link in the semiconductor and EV sectors in the country, president and CEO of Mitsubishi Chemical Group Manabu Chikumoto, said at an interactive session of Bengal Chamber of Commerce and Industry here on Wednesday.

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"We are trying to find out some occasions to come to this market to expand our existence, together with some partners. It will be in the supply chain link to the semiconductor and EV sectors", he said.

Chikumoto said the group has not identified any place for the proposed project.

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"The Indian government is very keen to boost the semiconductor industry in the country. For the proposed project, we need some support from the Centre and the local government of the state where it will be located," he said.

Chikumoto served as the managing director of MCC PTA India (now MCPI) from 2012 to 2015, prior to the takeover of the operations in West Bengal by TCG owned by Purnendu Chatterjee. MCPI has its plant located at Haldia in West Bengal.

"We had faced hard times then and received help from the state, central government, financial institutions and other stakeholders to come out of the problem. After transfer to TCG, MCPI expanded its business", he said.

MCPI is a producer of purified terephthalic acid (PTA) used in the manufacture of PET resins used for bottling purposes.

Chikumoto said that the new management plan of the Mitsubishi Chemical Group is to focus on carbon neutralizing and green technologies.

Chatterjee said that plastics is cheaper and durable and there should be ways to recycle it. But replacing polymers is not in sight so far, he said.

TCG also owns Haldia Petrochemicals Limited, which also has its plant at Haldia. PTI dc

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