Maire Tecnimont S.p.A released a statement that the group subsidiary dedicated to the green energy transition, NextChem, have signed a Memorandum of Understanding with Indian Oil Corporation Ltd. (IndianOil). The MoU consists of the development of industrial projects using NextChem technology as a way to industrialise the circular economy in India. The projects will be focusing on producing biofuels from renewable feedstock, circular fuels and chemicals from non-recyclable waste, and plastics recycling.
Under the MoU, NextChem and IndianOil will explore opportunities in waste valorisation by using NextChem plastic waste technologies, such as Waste-to-Chemicals and Upcycling solutions. NextChem will rely on the presence of the Maire Tecnimont Group in India, with over 3,000 E&Iprofessionals and more than 2,200 engineers in Mumbai, guarantees its technological solutions, best project development and executions. NextChem is currently developing ways to generate values from waste and contributing to green technological solutions from scouting to industrialising and commercialising sustainable technologies.
IndianOil is India’s state-owned integrated oil company operating in the entire energy value chain essentially natural gas, oil and other non-conventional sources. The company is working to develop its "Plastic Neutrality Initiative", a sustainable business model of waste-plastics in closed-loop ecosystems. IndianOil is looking for partners who can contribute to the end-life management of Indian plastic-waste problems. The corporation also aims to add recyclates as its new line of product portfolio, aside from its existing virgin polymers products.
CEO of Maire Tecnimont Group and NextChem, Pierroberto Folgiero, said that the group is proud to be a partner of choice in India's first industrial initiatives of circular economy with Indian Oil Corporation. India needs to accelerate development in waste-recycling sustainable systems, to enhance the value by chemical conversion and introducing available technologies. NextChem will support the transition with the expertise in circular economy and complex technological project management capabilities.
Maire Tecnimont S.p.A., a leading industrial group in the global natural resource processing industry, consisting of downstream plant engineering, with executive and technological expertise. The group operates in 45 countries through 50 companies with approximately 9,100 people and listed on the Milan Stock Exchange.
