In Taiwan, Toyota’s trading company, Toyota Tsusho has established a joint venture with Taiwan’s China Man-Made Fiber Corp, Greencol Taiwan with an initial capitalization of USD $123 million. Greencol will import sugar cane based ethanol from Braskem in Brazil, to produce mono ethylene glycol, a precursor to PET plastic.
Toyota over the last month has announced a number of vehicle models that will incorporate bioplastics, especially covering the interior of their vehicles. Toyota Tsusho stated, “In such a situation, we will have a shortage of bio-PET, because there are only 200,000 tons (our estimate) of availability in the world as of today.” Toyota Tsusho expects to produce and sell 200,000 tons of bio-PET, with the ability to increase capacity to 1 million tons as needed.
More background on the story from the Digest