Thai biofuels maker BBGI Co has plans to raise its ethanol production capacity to 800,000 from 500,000 litres per day by next year.
The plan is to invest THB 1.5 billion (EUR 38.5m) in the expansion, including proceeds from BBGI’s planned initial public offering (IPO) on the Stock Exchange of Thailand, the Bangkok Post reports. At a later stage, the company would aim to bring its ethanol capacity to 1 million litres per day, possibly with a strategic partner or through acquisitions.
In 2017, demand for fuel ethanol stood at around 4 million litres per day in Thailand.
BBGI, a 60/40 joint venture between Bangchak Corporation and Khon Kaen Sugar Industry, also intends to expand its offering to include higher-priced products, such as biodegradable plastic polymers, food supplements, cosmetics and more.
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BBGI in Thailand eyes doubling of ethanol production capacity