PTT Group and Mitsubishi Chemical Corp join hands in establishing the first sugar-based bio-plastic manufacturing plant in Thailand, in their bid to become a green plastic producer and turn Thailand into the “bio-hub” of Asia.
PTT MCC Biochem Co Ltd is established as a 50:50 joint venture, to produce bio-succinic acid (BSA) and polybutylene succinate (PBS) plastic pellet from sugar. Established with Bt360 million in registered capital, the company will start the plant construction in 2012 for commercial operations in late 2014. With estimated investment of Bt7 billion, the plant will be capable of producing 36,000 tonnes of BSA and 20,000 tonnes of PBS per annum.
“This will be the first PBS bioplastic plant in the world, as all PBS manufacturing is petroleum-based. The comprehensive project will help reduce imports and push forward Thailand’s plastic industry. This investment will be instrumental in turning Thailand into the bio-hub in Asia,” said PTT President and CEO Prasert Bunsumpun.
The plant will be located in Asia Industrial Estate in Rayong. PTT owns 1,500 rai in the estate, prepared to accommodate the new projects designed to turn Thailand into the bio-hub, under the 10th national economic and social development plan.
