Mitsui eyes $500 million bioplastics factory in the U.S

In Japan, Nikkei Asia reported that Japanese trading house Mitsui & Co. will decide next year whether to build a bioplastics factory in the U.S.

The proposed bio-PET plastics factory, with an annual capacity of 400,000 tons, could potentially launch operations in 2025. The plant will require a total investment of nearly $500 million. For this purpose, the Japanese company has signed a memorandum of understanding with U.S.-based chemical company Petron Scientech to explore a joint venture.

The Mitsui factory would procure bioethanol made from plants such as American corn and Brazilian sugar cane to produce the bio-PET plastic, according to the report.

More on the story.