Memorandum of Understanding Regarding the Development of a Bio-based Products and Renewable Energy Business in Thailand
Marubeni Thailand Co., Ltd (hereinafter, “Marubeni Thailand”) which is a wholly-owned corporate subsidiary of Marubeni Corporation (hereinafter, “Marubeni”) and Mitr Phol Sugar Corp., Ltd. (hereinafter, “Mitr Phol”), which is World Class Sugar Producer have signed a Memorandum of Understanding (hereinafter, “MOU”) regarding the related businesses of bio-based products(*1) and renewable energy in the Kingdom of Thailand (hereinafter, “Thailand”).
The purpose of this MOU is to develop raw materials for the manufacture and sales of bio-based wrapping, packaging and food container products by utilizing all the agricultural-derived resources, including agricultural residues, owned by Mitr Phol, which is the largest sugar manufacturing company in Thailand, and also to develop and introduce renewable energy.
Based on this MOU, Marubeni Thailand and Mitr Phol will consider the realization of such various decarbonized businesses as fossil fuel-based plastics reduction through bio-based product development and the introduction of renewable energy by utilizing Marubeni Group’s knowledge, technology, and sales network, together with Mitr Phol’s economic advantages on fully integrated agribusiness model and innovative technology. Furthermore, Marubeni Thailand and Mitr Phol will also contribute to the Bio-Circular-Green (BCG) Economy (*2) which is an important policy of the Thai government.
