Kaset Thai International Sugar Corporation

What Kaset Thai International Sugar Corporation does

Kaset Thai International Sugar Corporation Public Company Limited (KTIS) is a Thai integrated agribusiness founded in 1957 by Mr. Jaroon and Mrs. Hathai Siriviriyakul, originally operating as Thai Identity Sugar Group. Reorganized in 2012 into a holding group with Kaset Thai Sugar Industry Co., Ltd. as parent, KTIS is publicly listed on the Thai Stock Exchange and headquartered in Bangkok's Din Daeng district. The Group operates three wholly-owned sugar mills — Kaset Thai Factory (50,000 tons/day), Ruampol Factory (15,000 tons/day), and Thai Identity Sugar Factory (18,000 tons/day) — located in Nakhon Sawan and Uttaradit provinces, giving combined sugarcane crushing capacity of more than 83,000 tons per day. The Siriviriyakul family retains founding control, and the Group runs a fully integrated sugarcane bio-economy across twelve wholly-owned operating subsidiaries.

KTIS runs a closed-loop production model that converts every component of the sugarcane harvest into commercial output. Cane is processed into refined sugar and molasses; molasses feeds KTIS Bio Ethanol (formerly Ekarat Pattana); bagasse — produced at sugar mills — feeds three biomass power plants (KTBP, TEP, RPBP) generating 60 MW of electricity, of which surplus is sold to the Provincial Electricity Authority (PEA), and also feeds Environment Pulp and Paper (EPPCO) which produces 100,000 tons/year of chlorine-free bleached bagasse pulp for food packaging; and filter cake plus vinasse wastewater are converted by KTIS Bio Fertilizer into bio-fertilizer returned to the farmer base. KTRD (the in-house R&D arm established 2015) has registered five proprietary sugarcane varieties (Ruamphol1, Ruamphol2, Kasetthai1, Kasetthai2, Thai Eckaluck) with Thailand's Department of Agriculture. KTIS also holds GMP & HACCP food-safety certification — the first bagasse pulp producer in Thailand to do so — and operates an organic cane program using beneficial insects instead of chemical pesticides.

The Group operates a B2B and B2G sales-led model. Sugar, ethanol, pulp, fertilizer, and electricity are sold primarily under contracts with industrial manufacturers, food packaging companies, fuel blenders, and government utilities; molasses is exported via trading partners such as BR Molasses Trading. Pricing follows B2B contracts and Thai government-regulated mechanisms (sugar quota system, ethanol blending mandates, PEA power purchase agreements); specific prices are not publicly disclosed. KTIS supports more than 1.5 million sugarcane farmers through extension services, agricultural machinery partnerships (notably with LiuGong Machinery Group), premium pricing for fresh (non-burned) cane, and supply of proprietary bio-fertilizer and cane varieties. Recent strategic activity includes joint ventures with Global Green Chemical and NatureWorks Asia Pacific for the Nakhonsawan Biocomplex (Ingeo PLA bioplastics), Net Zero and carbon-credit partnerships with Evercomm Singapore and Bureau Veritas, and expansion of 100% bagasse pulp packaging into export markets.

Name

Kaset Thai International Sugar Corporation

Legal name

Kaset Thai International Sugar Corporation Public Company Limited

Website

https://ktisgroup.com

Company type

Public

Founded year

1957

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Kaset Thai International Sugar Corporation (KTIS) is a Thai integrated agribusiness that processes sugarcane across three mills into sugar, molasses, ethanol, 100,000 tons/year of bagasse pulp, bio-fertilizer, and 60 MW of biomass electricity, serving industrial buyers, the Provincial Electricity Authority, and over 1.5 million sugarcane farmers.

Ownership category

akta.pro rank

Product category

Sugar Production & Bio-based Industrial Products

NAICS

Cane Sugar Manufacturing (311314)

SIC

Sugar & Confectionery Products (2060)

akta.pro primary industry

Cane Sugar (Raw & Refined) (AFAJAAAA)

akta.pro secondary industry

Sugar & Sweeteners Trading/Wholesale (AFAIAKAB)

Keywords

• Sugar production
• Ethanol manufacturing
• Biomass electricity
• Bagasse pulp
• Bio-fertilizer

Headquarters

HQ city

Bangkok

HQ country

Thailand

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure

Revenue model

1. Sugar Production and Sales: Manufacture and sale of refined sugar products from sugarcane processing at three sugar mills (Kaset Thai Factory, Ruampol Factory, Thai Identity Factory).
2. Ethanol Production: Ethanol production from molasses at KTIS Bioethanol Co., Ltd. (formerly Ekarat Pattana). Ethanol is sold as a fuel additive for automobiles, reducing gasoline imports.
3. Bagasse Pulp and Packaging: Paper pulp manufactured from 100% sugarcane bagasse at Environment Pulp and Paper Co., Ltd. and Environment Pulp and Packaging Co., Ltd. Products are sold to food packaging and industrial customers domestically and for export.
4. Biomass Electricity Sales: Three biomass power plants (Kaset Thai Bio Power 60MW, Thaiekaluck Power, Ruamphol Bio Power) generating electricity from bagasse. Surplus electricity is sold to the Provincial Electricity Authority (PEA).
5. Bio-Fertilizer Sales: Bio-fertilizer and soil conditioner produced from filter cake (sugar production) and vinasse water (ethanol production) sold to sugarcane farmers.
6. Molasses Sales: Molasses, a by-product of sugar refining, sold to trading partners including BR Molasses Trading for export and as feedstock for ethanol production.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Kaset Thai International Sugar Corporation (KTIS) operates an integrated bio-based agribusiness that manufactures refined sugar, molasses, bagasse pulp, bio-fertilizer, ethanol, and biomass electricity from sugarcane. The company processes sugarcane through three sugar mills with combined capacity of approximately 83,000+ tons per day, then converts every by-product (bagasse, molasses, filter cake, vinasse) into value-added industrial products sold to manufacturing, packaging, fuel, and energy customers.

Product overview

KTIS operates a fully integrated agribusiness model spanning from upstream sugarcane farming support through to downstream bio-based industrial products. The core portfolio centers on sugar production (sugar and molasses) as the primary revenue driver, supported by three sugar mills with combined crushing capacity of approximately 142,000 tons of sugarcane per day. The integrated bio-economy model converts agricultural waste into value-added products: bagasse pulp (paper pulp from sugarcane residue), bio-fertilizer (from production waste), ethanol (from molasses for fuel blending), and biomass electricity (60MW from bagasse). Agricultural machinery services support farmer productivity. This vertical integration enables complete resource utilization with minimal waste.

Differentiator

Problem solved

Functional benefit

Brands

• Kaset Thai Sugar Industry: Parent company / holding entity for the group
• Environment Pulp and Paper / EPPCO
• KTIS Bio Ethanol
• KTIS Bio Fertilizer
• Kaset Thai Bio Power

Products and services

• Sugar (น้ำตาล) Refined white sugar produced from sugarcane using organic farming methods that avoid chemical use in cane fields, ensuring clean residue-free raw materials. Manufactured at three sugar mills (Kaset Thai Factory, Ruampol Factory, Thai Identity Sugar Factory).
• Molasses (โมลาส) A viscous by-product of sugar refining managed and exported through dedicated logistics partners for industrial applications including ethanol production and export markets.
• Paper Pulp (เยื่อกระดาษ) Bleached paper pulp produced from 100% sugarcane bagasse without wood fiber, using chlorine-free bleaching. Suitable for food packaging and containers with 100,000 tons annual production capacity, replacing approximately 32 million trees per year.
• Bio-Fertilizer (ปุ๋ยชีวภาพ) Organic bio-fertilizer and soil conditioner manufactured from sugar production waste (filter cake), ethanol production waste (vinasse), and ash from power plants. Customized formulas developed for specific soil conditions and regional farmer needs.
• Ethanol (เอทานอล) Ethanol fuel produced from molasses for use as a gasoline blending component, offering higher combustion efficiency than benzene with cleaner emissions. The company also produced sanitizing alcohol during the 2020 COVID-19 pandemic.
• Electricity (ไฟฟ้า) Biomass power generated from sugarcane bagasse at dedicated power plants with 60MW of biomass power generation capacity. Electricity is sold to the Provincial Electricity Authority (PEA) under long-term power purchase agreements and used internally.
• Agricultural Machinery Services (บริการจัดกรกลเกษตร) Agricultural machinery services provided to support sugarcane farmers with planting, cultivation, and harvesting operations, including equipment rental and technical support through partnerships like LiuGong Machinery Group.

Quantifiable outcome

• 100,000 tons of bagasse pulp produced annually, replacing 32 million trees cut per year
• +2 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Twelve partnerships are on record, tiered minor and core.

• Maewong Technical CollegeminorStrategic or Co-development Partner · 29 August 2023MoU for academic cooperation for a dual vocational program (สหกิจศึกษา) with Maewong Technical College.
• Office of the Cane and Sugar Board (สอน.)coreStrategic or Co-development Partner · 16 August 2023MoU for academic cooperation with Office of Cane and Sugar Board to jointly develop knowledge about production and agricultural machine technology to support sustainable growth of sugarcane and sugar business.
• Evercomm SingaporecoreTechnology or Integration · 18 August 2022Partnership with Evercomm, a Singaporean sustainable technology expert, and Bureau Veritas certification organization. Purpose: to set up a pathway to Net Zero organization and create business opportunities from carbon credits. Signed MoU witnessed by Thailand's Vice Prime Minister, Minister of Commerce, and Singapore's Second Minister of Trade and Industry.
• Bureau VeritascoreTechnology or Integration · 18 August 2022Partnership with Evercomm Singapore and Bureau Veritas to establish Net Zero pathway and carbon credit business opportunities, signed with Thai government participation.
• US Grain CouncilminorStrategic or Co-development Partner · 27 July 2022A study group from a joint program of US Grain Council, Department of Energy Philippines, and PPT group visited KTBE's ethanol production process to study ethanol industry in Thailand.
• Nakhonsawan Biocomplex (NBC) / Ingeo PLA Production SitecoreStrategic or Co-development Partner · 1 February 2022Foundation stone laying ceremony for Ingeo PLA (polylactic acid) production site in Thailand at Nakhonsawan Biocomplex, with participation of Nakhonsawan governor and senior KTIS executives.
• Global Green Chemical Public Company LimitedcoreStrategic or Co-development Partner · 1 January 2021KTIS Bio Ethanol Company Limited, a subsidiary, entered a joint investment with Global Green Chemical PCL in the Nakhonsawan Biocomplex (NBC) project, with GKBI as the joint entity between KTIS and CCG alongside NatureWorks Asia Pacific Co., Ltd.
• LiuGong Machinery GroupcoreStrategic or Co-development PartnerPartnership with LiuGong Machinery Group, a leading agricultural equipment manufacturer from China, to strengthen the use of agricultural machinery for sugarcane harvesting in alignment with government policy and the long-term direction of Thailand's sugar and cane industry.
• CenrG Co., Ltd.coreStrategic or Co-development PartnerJoint project with CenrG Co., Ltd. from South Korea and Happy Ground to study carbon dioxide sequestration, greenhouse gas reduction, and carbon credit generation in sugarcane plantations. This represents a significant step toward sustainable and environmentally friendly business practices under the BCG model.
• NatureWorks Asia Pacific Co., Ltd.coreStrategic or Co-development PartnerJoint investment entity GKBI formed between KTIS, CCG, and NatureWorks Asia Pacific for the Nakhonsawan Biocomplex (NBC) Phase 2 infrastructure and utility provider agreements.
• Eurasia Light Industry Equipment Manufacturing Company Limited (EAMC)coreStrategic or Co-development PartnerJoint investment with EAMC under joint investment entity Environment Pulp and Packaging Company Limited (EPAC), a subsidiary of KTIS, for the pulp and packaging business.
• Muanwan Technical College / Uttaradit Rajabhat UniversityminorStrategic or Co-development PartnerTIS and TEP partnered with Muanwan Technical College and Uttaradit Rajabhat University for dual vocational training programs and internship opportunities.

Scale indicators7 records

Recent moves14 records

Expansion highlights6 records

Broad incumbents

• Tereos SCA: French sugar-ethanol cooperative with operations in Brazil, Indian Ocean, and Europe. Comparable to KTIS in integrated sugarcane-to-sugar-to-ethanol model with downstream bio-products (starch, sweeteners), though with broader geographic footprint.
• Cosan Limited: Brazilian integrated sugar-ethanol-energy conglomerate (Cosan/Raízen joint venture with Shell). Comparable to KTIS in integrated cane-to-sugar-to-ethanol-to-energy model and represents the global low-cost producer benchmark for KTIS's commodity segments.
• Wilmar International Limited: Asia's largest agribusiness and one of the world's largest sugar producers through its Indian, Australian, and Chinese operations. Overlaps with KTIS in raw sugar refining, ethanol, and downstream bio-products but operates at far greater scale across multiple geographies.
• Südzucker AG: Europe's largest sugar producer with integrated ethanol (CropEnergies), bio-based food ingredients, and agricultural trading. Comparable to KTIS in vertically integrated sugar-bioproducts model, though serving European rather than Southeast Asian markets.

Others

• NatureWorks LLC: Global leader in PLA (polylactic acid) bioplastics, joint venture partner with KTIS and Global Green Chemical in the Nakhonsawan Biocomplex. Comparable as the downstream customer/partner for KTIS's planned PLA-grade sugar feedstock expansion.
• Global Green Chemical Public Company Limited: Thai bio-based chemicals producer that is KTIS's joint venture partner in the Nakhonsawan Biocomplex (NBC) PLA project. Comparable as an adjacent ecosystem player in Thailand's bio-economy with overlapping downstream oleochemicals/biofuels exposure to KTIS's ethanol business.

Direct peers

• Mitr Phol Sugar Corporation: Thailand's largest sugar producer and one of Asia's largest integrated sugar-ethanol-bagasse power operators. Directly comparable to KTIS as a vertically integrated Thai sugarcane processor with downstream bio-products, biomass power generation, and farmer development programs.
• Thai Roong Ruang Group: Major Thai sugar producer operating multiple sugar mills with integrated downstream products. Comparable to KTIS in business model (sugarcane milling with co-products) and Thai domestic market focus.
• Buriram Sugar Public Company Limited: Thai sugar mill operator with integrated downstream products including molasses and electricity generation. Comparable to KTIS in integrated sugar-mill-plus-byproducts model, though smaller scale.
• Khon Kaen Sugar Industry Public Company Limited: Publicly listed Thai sugar producer with integrated operations across sugar, ethanol, molasses, and biomass power. Comparable to KTIS as a SET-listed sugar-ethanol-bagasse integrated operator serving both domestic and export markets.

Market position

Strengths1 record

Weaknesses1 record

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/KTISGroupPLC
• LinkedInlinkedin.com/company/kaset-thai-international-sugar-corporation-public-co-ltd

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kaset Thai International Sugar Corporation