## SKC Breaks Ground on $100 Million Biodegradable Plastics Plant in Vietnam
South Korean chemicals and materials manufacturer, SKC, has commenced construction on a $100 million plant in Vietnam, marking its first direct investment in the country. The facility, located in the Đình Vũ Industrial Park in the port city of Hải Phòng, will produce biodegradable plastics, offering a more sustainable alternative to traditional pollution-causing plastics.
A Strategic Shift towards Sustainability
SKC’s subsidiary, Ecovance, will operate the plant, manufacturing two types of biodegradable plastics: PBAT and PBS. These materials naturally decompose, providing an eco-friendly option. With an annual production capacity of 70,000 tons of PBAT and 59,500 tons of PBS, the plant aims to meet the growing demand for sustainable materials in Vietnam and across Southeast Asia.
Government Backing and Investment Incentives
The project has garnered strong support from the Vietnamese government, with high-ranking officials, including Deputy Prime Minister Trần Lưu Quang, in attendance at the groundbreaking ceremony on May 11. The Hải Phòng government views this investment as a crucial step in attracting foreign capital to high-tech and green industries. Lê Anh Quân, Deputy Chairman of the Hải Phòng People’s Committee, emphasized their commitment to sustainable development and assured SKC of their full support in ensuring timely completion and compliance with legal regulations.
SKC’s Growing Presence in Vietnam
The Ecovance plant is a strategic move in SKC’s broader expansion strategy in Vietnam. The company, specializing in secondary batteries, semiconductors, and eco-friendly materials, recognizes the country’s immense growth potential. With an additional planned investment of $400 million by 2030, SKC is set to further boost the local economy and attract ancillary businesses to Hải Phòng.
Vietnam’s Green Economy Gets a Boost
