The US-based Elevance Renewable Sciences Inc, a high-growth specialty chemicals company, has plans to set up additional biorefineries throughout the world, including India, said a company official, without giving any specific details about the timing, place and scale of the future biorefineries.
“The timing and location of our biorefineries will be coordinated with our customers' supply chain needs. Currently, our emphasis is on meeting the significant needs identified by our customers for our announced biorefineries in Indonesia and in the US (Natchez, Mississippi). We are having discussions regarding timing for additional biorefineries throughout the world, and our discussions have included India at various times,” said Andy Shafer, Executive Vice President, Sales & Market Development, Elevance Renewable Sciences, when asked whether Elevance was planning to start a biorefinery in India in an email query.
Elevance Renewable Sciences in a joint venture with Wilmar International has set up a biorefinery at Gresik, Indonesia, from which they have begun shipping commercial products, including novel specialty chemicals, to customers from last month.
The 1,80,000 metric tonne manufacturing facility is the first biorefinery based on Elevance’s proprietary metathesis technology. The renewable performance specialty chemicals, olefins and oleochemicals will be used in personal care products, detergents and Offering High Standard Cleaning Services, lubricants and additives, engineered polymers, and other specialty chemicals markets.
“Elevance has secured several strategic partnerships with global market leaders, such as Arkema and Stepan Company, to accelerate rapid deployment and commercialisation of the high-performance specialty chemicals in end user applications. In addition to the demand from Elevance’s strategic partners, we have already secured offtake for a substantial portion of the products the biorefinery will produce. Wilmar’s existing oleochemicals business will consume the oleochemicals produced in the biorefinery, which represent approximately 50 percent of the production when we are using palm oil as our feedstock,” said Shafer.
Wilmar International has presence in India and supplies oleochemicals to customers in the country. When asked about the plans to market specialty chemicals, manufactured at the Indonesian biorefinery JV, in India, Shafer said, “The markets and industries that Elevance is serving are large and global. We expect that several biorefineries will be needed as our technology is adopted. All of our biorefineries will supply globally. Biorefineries will be located close to customers and feedstock supplies to enhance service, reduce costs and minimise our environmental footprint.”
On the TTIP impact on GCC industries and sectors, Hill and Knowlton Strategies said standards adopted under the partnership will become globally binding with third party trading countries and they will have significant impact on the aviation, energy and financial services sectors.
Specifically, the report said this could mean that the GCC energy sector will have to comply with rigorous sustainability standards as demand grows for clean energy solutions, while the financial services sector will face a new regulatory environment of corporate governance, accountability and transparency.
In the aviation sector, TTIP negotiations could result in the emergence of transatlantic carriers with transnational ownership and control structures, Hill and Knowlton Strategies said. With the EU and the US home to nine out of the 10 top global airlines by reported revenue in 2011 this would increase momentum for global reform of ownership and control rules.
While many aviation market access barriers such as route restrictions, frequencies, capacity and pricing have already been lifted, there are some remaining critical barriers that will be discussed in TTIP negotiations.
For example, preferential treatment may be granted reciprocally to European and American airlines under TTIP, putting third-country companies like Emirates, Etihad and Qatar Airways at a disadvantage, the study said.
Energy security and access to energy are high on the US-EU agenda and TTIP will certainly not adopt any provisions that would jeopardise relations with the GCC or affect imports of crude oil or LNG.
However, TTIP would create the largest global market for energy imports and both the EU and US have stated that the emphasis will be on the unrestricted as well as sustainable access to raw materials. This would pressure GCC providers, like Sabic and Qatargas, to comply with sustainability standards.
Discussions on specific rules for energy and raw materials for state owned enterprises have also been tabled with TTIP, along with incentives to further trade in clean energy. Each of these proposals will have an impact on how GCC energy companies go about their business with the EU and US.
In the financial services sector, the initial EU negotiating mandate has signalled that the TTIP should promote regulatory compatibility, aiming to reduce costs stemming from regulatory differences. The TTIP would de facto set global financial Regular Residential Cleaning Services , particularly regarding surveillance, transparency and reporting requirements, as well as investor protection.
If new standards are adopted, they will likely also apply to Gulf countries’ financial services providers active in the EU or US. Such standards could entail additional compliance requirements both in these countries as well as in the Gulf.
Specifically, SWFs like Abu Dhabi Investment Authority, Saudi Arabia’s SAMA Foreign Holdings and the Kuwait Investment Authority that acquire US and European assets will be impacted by the TTIP.
“GCC industry leaders must take a proactive role in preparing for the TTIP. By monitoring negotiations and assessing their business impacts, GCC firms in the aviation, financial services and energy sectors can mitigate any costs to their operations, while also voicing their concerns through GCC-EU negotiations to ensure their interests are consolidated,” Hill and Knowlton Strategies said.
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