SEOUL, May 13 (AJU PRESS) - SK Leaveo, an eco-friendly materials company backed by SKC, has begun construction of a plant to produce materials for biodegradable plastics in Viet Nam.
The joint venture between SKC, a materials maker, and Daesang Corp., a food maker, both from Korea, held a groundbreaking ceremony for the plant in the northeastern city of Hai Phong on Saturday (local time).
The company will invest $100 million in the plant, which will occupy a 22,389-square-meter site. With an annual capacity of 70,000 tons of Polybutylene Adipate Terephthalate (PBAT), it will be the world's largest single biodegradable plastic materials plant.
Commercial production is slated for the third quarter of 2025, with the potential for future expansion. SK Leaveo's proprietary technology allows for the production of high-strength, durable PBAT suitable for agricultural films, packaging, containers, and textiles. The facility will operate on 100 percent renewable energy, the company said.
SK Leaveo is partnering with Vietnam's largest plastics maker, An Phat Corp., to build a local biodegradable plastics ecosystem. An Phat will invest in SK Leaveo's Vietnamese subsidiary and sign a long-term PBAT purchase agreement with the company.