Dow and Mitsui announced that they have secured the necessary regulatory approvals for their joint venture to produce bioplastics for packaging from sugar cane-derived ethanol. The companies said the governmental green light meant that operations at the Brazilian plant would likely commence in the second quarter of 2013.
‘World’s largest bioplastics plant’
Mitsui will gain a 50% stake in Dow’s facility in Santa Vitoria, in the Minas Gera region of Brazil. It claims that this facility will be the world’s largest integrated plant to manufacturer bioplastics.
The companies plan to make a wide variety of chemical products and plastics from renewable fuels like ethanol. “The formation of this joint venture marks a historic next step in our drive to bring world-leading technology and sustainable solutions to one of the fastest-growing regions of the world,” said Dow chairman and chief executive Andrew Liveris.
He added: “This move advances Dow’s strategy and demonstrates our unwavering commitment to invest for growth in high-value, innovation-rich sectors through strategic partnerships.”
See also interesting articles related to this topic: