Japan’s Mitsui Proposes to Build Bioplastics Plant in the US

Japanese trading house Mitsui & Co has proposed to build a USD550 million bioplastics factory in the south eastern region of the US, according Nikkei Asia.  The proposed factory will have a production capacity of 400,000 tons per year bio-PET plastic and could open in 2025, the report said.  The company has signed a memorandum of understanding (MoU) with US-based chemical company Petron Scientech to explore setting up the joint venture.
Bio-based polyethylene terephthalate or Bio-PET is a plant-derived alternative to plastic produced from fossil fuels and is usually used in drink bottles.  The proposed Mitsui factory would source bioethanol made from plants such as American  corn and Brazilian sugarcane to produce the bio-PET plastic, which would then be sold as a container to drink manufacturers, the report said.