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Mitsubishi Chemical, PTT to Start Bio-Plastic Joint Venture in Thailand

Mitsubishi Chemical Corp. and Thailand’s PTT Pcl (PTT) plan to jointly invest 7 billion baht ($232 million) in a bio-plastic venture that will start production in late 2014, the companies said today.

PTT MCC Biochem Co. will produce plastic from sugar, PTT said in a statement in Bangkok. PTT and Mitsubishi will each hold a 50 percent stake in the venture, it said.

Construction of the plant will start next year, according to the statement.

To contact the reporter on this story: Suttinee Yuvejwattana in Bangkok at suttinee1@bloomberg.net

To contact the editor responsible for this story: Tony Jordan at tjordan3@bloomberg.net

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