In Thailand, leading polylactic acid producer NatureWorks has obtained a $350-million loan to finance its fully integrated PLA plant at the Nakhon Sawan Biocomplex. The loan, provided by Krungthai Bank PCL, will support both the construction and ongoing operations at the facility. The plant will utilize locally sourced sugarcane as feedstock.
“This funding will enable us to expand our international customer base with fully biobased, low-carbon biomaterials that offer unique performance attributes valued by global packaging and fiber markets,” stated Erik Ripple, President and CEO of NatureWorks, in a press release.
NatureWorks first announced the plant in June 2021. The facility will produce lactic acid, lactide, and 75,000 metric tons per year of PLA biopolymer, with startup expected in 2025.