In Azerbaijan, TechnipFMC and Yeni Kapital have agreed with Azerbaijan’s Innovation Agency to build the nation’s first bioplastics plant.
Innovation Agency head Tural Karimli tells Azernews the polylactic acid facility will cost about €150 million (US$167.2 million) and take two years to build. The government is providing tax and customs benefits. “This project is important for environmental protection. The level of environmentally friendly water reservoirs and public health are very important for us,” Karimli adds.
The facility will employ 7,000 people once complete, and 1,000 jobs will be created to build the facility. “The annual income will be at least $110 million. It is planned to return investments within 5 years,” Karimli says.
PLA can be made from corn or sugarcane. The PLA produced at the new plant will ultimately be used to make disposable items such as food packaging and bags.