NR Instant Produce Plc (NRF), a producer of vegetarian and plant-based food in Thailand, and national oil and gas conglomerate PTT Plc have set up a joint venture with UK-based Plant and Bean Co. The new joint venture, known as Plant and Bean (Thailand), will be 51% owned by Nutra Regenerative Protein Co and the remaining 49% by Plant and Bean, reported Bangkok Post. Nutra Regenerative Protein is equally owned by PTT and NRF.
A new factory will be set up in Ayutthaya, Thailand to produce alternative protein. The new manufacturing facility will have a production capacity of 3,000 tonnes a year with commercial operation to commence in 2023. The products will be exported to Southeast Asia as well.