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Thai firm signs MoU for textiles from plastic waste

26
Sep '18
Saha Pathana Inter-Holding Plc (SPI), a Thailand-based investment company has signed a memorandum of understanding (MoU) with PTT Global Chemical PLC (GC), a petrochemical refinery, to reuse waste from plastic in the production of textile products. The association is focused towards improving the standards of textile items to an international level.

The companies will focus on developing products that are less environmentally damaging, while bringing high standards to the task of reducing Thailand’s waste problems, Thai media said quoting a press release. As per the agreement, SPI will receive technical assistance from GC to develop innovative textile products from the waste.

"SPI recognises the importance of investment in the textile industry, and realises that textile products created from plastic waste are an interesting business, as the global shift of sustainability and environmental protection continues to rise among consumers," Vichai Kulsomphob, SPI president and executive director, said.

With the collaboration, the companies look forward to expand business to the international market as well while having a strong hold at the domestic level.

"In this partnership, GC will bring expertise in the petrochemical business and manufacturing of plastic resin by incorporating innovative and groundbreaking technology. The combined strengths of the two organisations will ensure the promise of long-term business and simultaneously maximise the potential for Thai businesses, while also corresponding with the growing trend of green business across the world," Vichai added. (RR)

Fibre2Fashion News Desk – India


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