Braskem and Sojitz to create JV to produce and market bioplastics

In Brazil, Braskem and Sojitz have signed an agreement to establish a joint venture which will produce and market bioMEG (monoethylene glycol) and bioMPG (monopropylene glycol). Subject to the conclusion of technology development in 2022, the business plan includes the construction of three industrial units, with the startup of the first plant in 2025, taking advantage of market opportunities and feedstock availability. With the agreement signed, the establishment of the joint venture has been submitted to antitrust authorities for approval. 

The joint venture will combine Braskem’s expertise in the industrial production and sale of chemicals and plastics made from renewable sources with Sojitz’s strong presence in Asia, a region that concentrates 80% of the global MEG market and where its consumption registered the highest growth.