ITOCHU Corporation to investment in a petrochemical plant in DDIP.
On September 5th 2023, the Chairman, Mr. Aboubaker Omar Hadi, received a delegation from ITOCHU Corporation at Red Sea World, led by the Ambassador of Japan to the Republic of Djibouti, H.E. Mr. Otsuka Umio.
The discussions centered around several topics, including investments in a petrochemical plant in Djibouti's Damerjog Industrial Park, which would leverage local resources by combining them with refinery by-products for PVC production.
The ITOCHU group expressed a strong interest in capitalizing on the raw salt from Lake Assal to manufacture basic chemical products for export to Japan, such as potassium and caustic soda, as well as the green energy production through electrolysis.