The EDB and BIO PLANETA intend to set up Russia’s first full-cycle production of bio-based and biodegradable plastics

03 June 2021

St. Petersburg, 3 June 2021. The Eurasian Development Bank (EDB) and BIO PLANETA signed a memorandum of intent to launch production of polylactide (PLA) bio-based and biodegradable plastics in a granular form in Russia. The signature ceremony took place on the sidelines of the St. Petersburg International Economic Forum.

The sides intend to jointly consider possible investment options and cooperate in developing the biodegradable plastics industry in Russia to promote state-of-the-art technologies in the sector.

“This memorandum is very important to the EDB, as it will help to develop a sector that is essential for the EAEU countries. The first stage will be a pilot manufacturing facility with a capacity of 10,000 tonnes of PLA a year. We are happy to team up to implement joint large-scale high-tech projects, including in the area of green technology and environmental protection. In addition, the Strategy for Developing Eurasian Economic Integration until 2025 envisions that a phased ban on the import and production of single-use plastics, including bags, should be considered,” said Nikolai Podguzov, Chairman of the EDB Management Board.

“The use of plastic has increased dramatically because of the coronavirus pandemic. This is due to the use of huge amounts of personal protective means such as masks and gloves and the development of online shops and deliveries of disposable packaging from restaurants. As a result, the amount of plastic waste has also increased. Today, none of the world’s traditional plastics can be considered fully biodegradable. PLA plastics, on the other hand, can indeed be a sustainable material as, when composted, they become organic fertilisers for agricultural use. The development of the polylactide-based plastics industry will reduce our country’s dependence on similar imports and help to conserve the environment. We thank the EDB for supporting our project and believe in the development of green technologies,” added Yaroslav Kuznetsov, CEO of BIO PLANETA.


Additional Information:

BIO PLANETA is a company established to launch the production of polylactide (PLA) bio-based and biodegradable plastics in a granular form.

The Eurasian Development Bank (EDB) is an international financial institution promoting integration and development in its member countries – Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, Russia, and Tajikistan. The EDB's charter capital totals US $7 billion. The Bank was established in January 2006 and is headquartered in Almaty. The EDB’s portfolio mainly consists of projects with an integration effect in the areas of transport infrastructure, digitalisation, green energy, agriculture, industry, and machinery.

The EDB Media Centre:

Azima Sapargaliyeva +7 (777) 750 00 08 (Almaty)

Sergey Gorbachev +7 (916) 727 22 00 (Moscow)

BIO PLANETA Press Service:

Ksenia Bartash, +7 (903) 770 99 67 (Moscow)

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