A Thai company signs a MoU with a petrochemical refiner to develop textile products using plastic waste

GC will provide technological know-how and support for modifying plastic waste into textile products, under the MoU. While bringing high standards to the task of reducing Thailand’s waste problems, the companies will focus on developing products that are less environmentally damaging. The business collaboration also targets at enlarging into both domestic and international markets, apart from creating high-value textile products from plastic waste. The tie-up will also extend efforts to pursue corporate social responsibility activities such as exhibitions and community development activities.

A THAI company has signed a memorandum of understanding (MoU) with a petrochemical refiner to develop textile products using plastic waste, at a time when all eyes are on the harm plastics are doing to the planet. Saha Pathana Inter-Holding Plc (SPI) and PTT Global Chemical PLC (GC) aim to bring Thai textile products up to international standards.

Vichai Kulsomphob, SPI president and executive director, said that, “SPI recognises the importance of investment in the textile industry, and realises that textile products created from plastic waste are an interesting business, as the global shift of sustainability and environmental protection continues to rise among consumers.”

He added that, “In this partnership, GC will bring expertise in the petrochemical business and manufacturing of plastic resin by incorporating innovative and groundbreaking technology. The combined strengths of the two organisations will ensure the promise of long-term business and simultaneously maximise the potential for Thai businesses, while also corresponding with the growing trend of green business across the world.”