Investment of THB15 billion sweetens Thailand’s growing bioplastics sector
The Board of Investment (BOI) has approved Nature Works Asia Pacific Co’s 15-billion-baht investment to produce Polylactic Acid (PLA), a biodegradable polymer used to make tea bags, coffee capsules and food packaging. PLA is also used to make biodegradable face masks, cleaning cloths and diapers.
BOI chief Duangjai Asawajintajit said the investment is the latest step in Thailand’s bio-circular-green (BCG) economic model, which focuses on cost-effective use of biological resources.
He added that the BOI had approved 31 billion baht of investment in Thailand’s bioplastics business in the six years up to March.
Nature Works Asia Pacific expects to produce 75,000 tonnes of PLA per year, using domestic agricultural raw materials including about 110,000 tons of sugar.
Duangrai said the bioplastics industry will play an increasingly important role in Thailand’s future as economic development goes hand in hand with environmental stewardship.
This trend will be a foundation for Thailand to create a bioplastics cluster industry in line with the BCG concept and the UN’s sustainable development goals (SDGs), he added.