GGC and KTIS continue on the second phase construction of "Nakhonsawan BioComplex" project after NatureWorks LLC decided to invest in a bioplastic manufacturing factory.
11 August 2021
- Nakhonsawan BioComplex project has proven GGC's leadership in biochemical business and intention to become leading green flagship company of GC Group.
- GGC's projects and business operations are the leader and prompt to encourage the Bio-Circular-Green Economy (BCG Model) of Thailand.
- GGC and KTIS promote Nakhonsawan BioComplex project to be the first bio hub in Thailand, willing to drive the country toward sustainable growth.
Global Green Chemicals Public Company Limited (GGC), a leading green flagship company, and Kaset Thai International Sugar Corporation Public Company Limited (KTIS), a leader in sugar and fully integration in continuous manufacturing industry, will continue on the second phase construction of Nakhonsawan BioComplex project (NBC), a joint venture between GGC and KTIS, after NatureWorks LLC (NatureWorks), the US world-class bioplastic manufacturer, decided to invest in a Polylactic Acid (PLA) bioplastic manufacturing factory. GGC KTIS Bioindustrial Company Limited (GKBI), a joint-stock company between GGC and KTIS, will be responsible for investment and preparation of PLA bioplastic manufacturing factory utilities, expecting to commence the construction from January 1, 2022, onwards.
Nakhonsawan BioComplex project is in line with the government's bioeconomy development project and a part of pilot projects under Thailand's bio-industry development policy. The government aimed to promote Thailand to be a bio hub of Asia by 2027 and the project to be the first bio hub in Thailand. This project was operated by GKBI on over 2,000 rai land in Nong Pho subdistrict, Takhli district, Nakhon Sawan province. The second phase of Nakhonsawan BioComplex project will focus on adding value to agricultural products and develop high value-added products, such as biochemicals and bioplastics, by using sugar cane with advanced environmentally and society friendly technologies.
Piroj Samutthananont, GGC Managing Director, said Nakhonsawan BioComplex project has proven the company's leadership in biochemical business as the company has intention to become leading green flagship company of GC Group. Meanwhile, it also boosted the company's potential in biochemical business and investment opportunities in biochemicals and bioplastics in the future, resulting in mutual benefits throughout bio-industry supply chain and sustainable quality of life among farmers, he added.
He explained that the second phase of Nakhonsawan BioComplex project was worth 1.43 billion baht, which consist of biomass power plants for generating electricity, steam and water manufacturing and wastewater management systems for projects under NatureWorks. "NatureWorks' move to invest in bioplastic factory will be the first Fully Integration bioplastic factory in Thailand that will fulfil the global market's demand," he said. "It is considered one of projects that support the Bio-Circular-Green Economy (BCG) model that aims to exponentially boost economic growth, enhance competitiveness and enable the country to achieve Sustainable Development Goals (SDGs)." "In addition, the operation will boost confidence among foreign investors to invest in Nakhonsawan BioComplex project in the future."
He added that GGC has other investments related to biochemicals under the BioComplex project in line with the company's strategy to grow in biochemical and bioplastic businesses. "Nakhonsawan BioComplex is allowing investors to invest in various businesses related to biochemicals as well," he added.