09-11 May, 2016 - Bangkok, THAILAND
Sofitel Bangkok Sukhumvit
Sofitel Bangkok Sukhumvit
Thailand’s PTT Global Chemical (PTTGC) is planning a $143 million JV to build a bioplastic industrial estate – the first of its kind in Thailand. PTTGC plans to tie up with one of the country’s leading sugar producers for this 50:50 joint venture.
The industrial estate will be a one-stop centre for growing sugarcane, producing sugar, making ethanol, generating electricity from biomass-based power plants and setting up a bioplastic manufacturing plant. PTTGC is keen on establishing the industrial estate in the central region, that will be convenient for farmers to grow sugarcane in abundance.
Once the JV is finalized, it’s estimated that it will take about 30 months to complete the construction and commence operations.
With this dedicated bioplastic estate, PTTGC is hopeful that they can attract NatureWorks – world’s largest biopolymer producer to choose to set up its $200-million worth polylactic-acid manufacturing plant in Thailand. NatureWorks has revealed plans to set up a PLA plant in Asia and is mulling over Thailand and Malaysia as a preferred location.
With Asia’s demand for bioplastics, Thailand is trying to pose itself as a bioplastics hub and this industrial estate is a step in that direction.
More on Asia’s bioplastics market investments will be discussed at 5th Biobased Chem World (incorporating Biobased Chem Asia and Bioplastics Market) in Bangkok on 9-11 May, 2016.
Contact Ms. Grace at grace@cmtp.com.sg or call +65 6346 9147 for more information.
