GC and Krungthai Bank lead eco-friendly venture in Thailand

PTT Global Chemical Public Company Limited (GC) has reached a significant milestone through a joint venture project with Krungthai Bank and NatureWorks, a leading manufacturer of polylactic acid (PLA) biopolymers sourced from sustainable materials. This collaboration paves the way for the establishment of a state-of-the-art Ingeo™️ PLA manufacturing plant in Thailand, backed by a substantial investment of $350 million USD from Krungthai Bank PCL.

The funding, marking one of the largest loans in the bank's history for Green Field projects in the eco-friendly sector, highlights GC's dedication to sustainable business practices in alignment with Thailand's Bio-Circular-Green Economy (BCG) Model. This strategic partnership not only supports the construction and operation of the new facility but also positions NatureWorks as a key player in the bioplastics industry, fostering innovation and expanding biobased solutions to address the increasing demand for environmentally friendly materials in the Asia-Pacific region and beyond.

The upcoming NatureWorks facility in Nakhon Sawan province is poised to be Thailand's inaugural bio-complex, in line with the government's BCG economic development strategy. Anticipated to commence full-scale production in 2025, the plant will boast an annual PLA production capacity of 75,000 tons under the Ingeo™️ brand, utilizing locally grown sugarcane as its primary raw material, sourced from neighboring farmers.

The collaboration between GC, Krungthai Bank, and NatureWorks signifies a significant leap towards sustainable manufacturing practices in Thailand, with the establishment of the country's first bio-complex heralding a new era of eco-friendly production. This initiative not only showcases a commitment to environmental stewardship but also sets a precedent for future investments in green technologies, driving the growth of bioplastics and contributing to a more sustainable future for Thailand and the broader region.