The national oil and gas company PTT Plc plans to construct a facility to transform plant-based cuisine into popular new goods.
The facility, which will be located in Ayutthaya’s Rojana Industrial Estate, would have an annual production capacity of 3,000 tons and is expected to expand to 25,000 tons within seven years.
Buranin Rattanasombat, senior executive vice-president of PTT and chairman of Innobic (Asia), PTT’s biosciences subsidiary, stated that soybeans would be the primary ingredient in the new factory.
In the last two years, Innobic has invested 13 billion baht in establishing new enterprises based on life science technology, including plant-based meals.
PTT is also interested in diversifying into the latter industry since the market value of plant-based food was approximately 9 billion baht last year and is expected to increase by 12-15% annually.
AuttapolRerkpiboon, chief executive officer of PTT Plc, stated that plant-based goods would add value to the Thai food sector and assist farmers in increasing their income. He noted that the company is now in discussions with a UK-based startup specializing in producing plant-based foods on a potential joint venture in Thailand. (NNT)
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