France's Total, Dutch Corbion join forces in bioplastics

French oil and gas group Total SA (EPA:FP) and Dutch food ingredients and biochemicals company Corbion (AMS:CRBN) said Wednesday they would create a 50/50 joint venture to produce and market polylactic (PLA) polymers.

The joint plans involve the construction of a PLA polymerisation plant with an annual capacity of 75,000 tonnes at Corbion's site in Thailand where a lactide (PLA monomer) production unit is already operational and will become part of the new company.

The lactic acid necessary for the production of the PLA and the lactide will be supplied by Corbion.

The joint venture will be headquartered in the Netherlands and is set to become a major player in the growing bioplastics market. It will combine Total's technical and marketing knowledge and leading position in polymers with Corbion's expertise in lactic acid and biopolymers. Operations are scheduled to commence in the first quarter of 2017, subject to regulatory clearance.

The investment is in line with Total's expansion plans within biofuels and bioplastics, in addition to its more traditional oil and gas business.

"The joint venture will allow us to supply an innovative material that is 100% renewable and biodegradable and that responds to sustainability concerns," Bernard Pinatel, president of Total Refining & Chemicals, commented.

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