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NatureWorks raises USD 350 million in debt funding to support Thailand PLA manufacturing plant
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May 20, 2024
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Bio-based Materials

Bio-based Materials

May 20, 2024

NatureWorks raises USD 350 million in debt funding to support Thailand PLA manufacturing plant

Funding

  • NatureWorks, a sustainable biopolymer manufacturing subsidiary of Cargill, has received debt funding amounting to USD 350 million from Krungthai Bank for its new Ingeo PLA manufacturing facility in Thailand.

  • The funds will be used to construct the manufacturing facility and support its operations. The facility is expected to start operations by 2025 and will have an annual capacity of 75,000 tons of Ingeo biopolymer. It will be located at the Nakhon Sawan Biocomplex in Thailand, dedicated to the Bio-Circular-Green (BCG) Economic Model.

  • Analyst QuickTake: The loan is one of the biggest made by Thailand's third-largest bank. The funding also underscores Thailand’s aspirations to emerge as a global leader in bioeconomy. The new facility is also expected to aid the growth of various markets in the Asia-Pacific region, such as 3D printing, flexible packaging, and compostable food serviceware.

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