Mitsubishi Chemical Group from Japan has expressed its interest in joining the semiconductor and electric vehicle supply chains in India. The company plans to establish a project in the country aimed at supporting these sectors, according to Manabu Chikumoto, President and CEO of Mitsubishi Chemical Group, during an interactive session at the Bengal Chamber of Commerce and Industry on Wednesday.
“We are exploring opportunities to enter this market and expand our presence, in collaboration with partners. The project will focus on the semiconductor and EV supply chains,” he shared. Chikumoto mentioned that the company has yet to decide on a location for the proposed project.
“The Indian government is eager to enhance the semiconductor industry within the country. For the planned initiative, we will require assistance from both the central government and the local authorities where the project will be set up,” he added. Chikumoto, who previously served as the managing director of MCC PTA India (now MCPI) from 2012 to 2015, reflected on the challenges the company faced before TCG, owned by Purnendu Chatterjee, took over operations in West Bengal. MCPI operates a plant in Haldia, West Bengal.
“We encountered difficult times then and received support from the state, central government, financial institutions, and other stakeholders, which helped us recover. After the transfer to TCG, MCPI was able to expand its operations,” he said.
MCPI manufactures purified terephthalic acid (PTA), a key ingredient in producing PET resins for bottling. Chikumoto also highlighted the Mitsubishi Chemical Group’s new management focus on carbon neutrality and green technologies.
Purnendu Chatterjee emphasized that while plastics are cheap and durable, there should be more efforts to recycle them. However, he noted that alternatives to polymers are not yet viable. TCG also owns Haldia Petrochemicals Limited, which operates a plant in Haldia.
