Marubeni Thailand Co. Ltd (Marubeni Thailand), a wholly-owned corporate subsidiary of Japan-headed Marubeni Corporation (Marubeni) has announced that it has signed a Memorandum of Understanding (MoU) with Thai world-class sugar producer, Mitr Phol Sugar Corp. Ltd (Mitr Phol) regarding the related businesses of bio-based products and renewable energy in Thailand.
According to a statement, the purpose of this MoU is to develop raw materials for the manufacture and sales of bio-based wrapping, packaging, and food container products by utilizing all the agricultural-derived resources, including agricultural residues, owned by Mitr Phol, the largest sugar manufacturing company in Thailand, and also to develop and introduce renewable energy.
Based on this MoU, Marubeni Thailand and Mitr Phol will consider the realization of such various decarbonized businesses as fossil fuel-based plastics reduction through bio-based product development and the introduction of renewable energy by utilizing Marubeni Group’s knowledge, technology, and sales network, together with Mitr Phol’s economic advantages on fully integrated agribusiness model and innovative technology.
Furthermore, Marubeni Thailand and Mitr Phol will also contribute to the Bio-Circular-Green (BCG) Economy which is an important policy of the Thai government that is encouraging technological innovation, aiming for improved productivity, and promoting high-value-added products while recognizing the importance of biodiversity and cultural diversity in four key areas:
- food and agriculture;
- medical and health care;
- bioenergy, biomaterials, and biochemicals; and
- tourism and the creative economy.
