Sector News

Total SA creates bioplastics JV with Corbion

November 16, 2016
Chemical Value Chain

French oil major Total said Wednesday it is launching a bioplastics manufacturing company with Amsterdam-listed Corbion NV.

Total and Corbion will each own 50% of the new company that will be based in the Netherlands and will produce and market polylactic polymers made out of sugar or starch, the two firms said. The two partners will build a factory with an annual capacity of 75,000 tons in Thailand.

The new firm will start operations in the first quarter of 2017.

The French oil major has invested in different projects related to renewable energies over the past few months in a bid to diversify from oil and gas. The company, which bought a green-energy utility in Belgium and a battery manufacturer, insisted all such projects will be profitable.

By Inti Landauro

Source: MarketWatch

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