Bangchak Corporation Public Company Limited is currently preparing for a biohub project as well as 3 major biologics groups, namely biofood, biomaterials and biocosmetics. Expected to become more concrete in the next couple of years, the company will introduce synthetic biology, in short SynBio, which is a world-changing biological innovation in the next 20-30 years, to improve agricultural products following the governmental BCG policy on economics.
Mr. Chaiwat Kovavisarach, the President and Chief Executive Officer of Bangchak, announced, at the SynBio Forum 2019 seminar, that the company was selecting a biohub location. Previously, the location was expected to be situated in an area of Eastern Economic Corridor (EEC) in Thailand. However, after considering various factors, the company resolved to change the location to an area close to raw material one, namely a sugar plant in Khon Kaen or Kanchana Buri. Soon, a conslusion will be drawn, which means business expansion from Bangchak’s biologics to high value one in the future.
Bangchak will also bring the BBGI Public Company Limited, its subsidiary, for fundraising in a stock market at the end of 2020. If economic crises affect the stock market, there will be a delay. Income from fundraising will be used in biohub inductries and strengthening production capacities of biodiesel and ethanol industries, following the Ministry of Energy’s policy to promote consumption of B10 and E20 petrol as the fundamental products. Such increased the demand of using the two types of petrol.
Seeing opportunities to continue more on biofuel, the BBGI is interested in investing on 3 types of products: biofood, biomaterials, namely plastic degradable in sea water, and biocosmetics. At present, it is researching on product details and designs, which are expected to become more concrete in the next couple of years. Cooperation will be done with laboratories in many countries to select the required SynBio with good commercial prospects.
The SynBio is regarded as the world-changing biological innovation in the next 20-30 years as it plays a major role in agricultural product improvement for rice, sugarcane, tapioca, rubber and palm oil. Responsible for added economic value and reduction of world resources use, the SynBio is an innovative technology suitable to solve problems on the world’s resource crises according to the governmental BCG’s economic policy.
In his lecture, the Director of Office of National Higher Education Science Research and Innovation Policy Council (NXPO) Dr.Kitipong Promwong said that the current Thai government aimed to upgrade the BCG to become equal to the EEC so that parallel mobilization exists. Initially, the BCG’s economic values are expected to increase from 3.4 million million Baht in 2019 to 4.4 million million Baht in 2022 via 4 major industries: agriculture and food, energy and materials, health and medicine and tourism and hospitality.
Above all, the advisor of BBGI Mr. Mukund Round added that the company was planning to work with Ginkgo Bioworks from America to gain knowledge and technology to develop production and biofuel products manufactured and sold by BBGI as the major goods.