Thailand's largest petrochemical producer PTT Chemical has tied up with Myriant, a private US-based biotech firm that manufactures renewable bio-based chemicals. P7Twill invest US$60 million strategic equity in this venture with Myriant for an ongoing development of its products. Moreover, it will help fund the commercialisation of its succinic acid platform, as well as the construction of a 13,000 tonnes/year plant in Louisiana, which will be the world's largest. PTT has inked other deals including the 2009 joint-venture pact with Mitsubishi Chemical (MCC) for the development of bio-polybutylene succinate.
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