In Thailand, Bangchak Corporation has announced it will spend 37.3-billion baht ($1.1 billion) from 2018-2022 to develop a biobased chemical project in Chachoengsao province. The site will convert biobased ethanol into skincare and cosmetics ingredients, food supplements, biodegradable materials, and pharmaceuticals.
Bangchak president Chaiwat Kovavisarach tells the Bangkok Post the investment will be made through Bangchak’s BBGI subsidiary, which operates an ethanol plant at the site. BBGI’s planned initial public offering will help pay for the project.