Thailand: Mitr Phol, PTT mull biotech

Thailand: Mitr Phol, PTT mull biotech

Major Thai companies are planning to start bioeconomy projects, expecting to
create demand for value-added farm products by using advanced technology,
says Industry Minister Uttama Savanayana.

He said Mitr Phol, the country's biggest sugar producer, and PTT Plc,
Thailand's oil and gas conglomerate, have brainstormed with the ministry on
coordinating development of factories to produce bio-based cosmetic
products.

"They want to start with cosmetic products because it is a fast-growing
sector," Mr Uttama said. "After that, they could develop other bio-based
industrial products."

These projects could help reduce expensive imports of some raw materials, he
said.

Bioeconomy is a new industrial sector the government is promoting to add
value to Thai farm products.

Mitr Phol plans to set up a factory to develop cosmetics from sugar and its
byproducts, while PTT is interested in extracting fat from agriculture
products to blend with its petroleum byproducts to create bioplastics, Mr
Uttama said.

The ministry suggested the two spearhead factories in the Northeast, where
there is plenty of sugar cane and other crops that could supply their
demand, he said.

"The aim of our talks with Mitr Phol and PTT is to develop a bioeconomy and
the biochemical industry in other parts of the country beyond Map Ta Phut,"
Mr Uttama said.

He said the two companies are working on action plans and will get back to
the ministry in a few months to see what kind of support is available. The
projects will be implemented via the Pracha Rat initiative (People's State)
partnership model.

"We want to see clear plans from the private sector before lending a hand,"
Mr Uttama said. "We want to be sure the bioeconomy will not lead to other
problems such as biochemical industries that cause a sugar cane shortage."

To prevent crop shortages from supplying the bioeconomy, he said the
Industry Ministry and companies need to work closely with the Agriculture
Ministry to conduct agricultural zoning.

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Link to Original Article:
http://www.bangkokpost.com/business/news/1236358/mitr-phol-ptt-mull-biotech

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com