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Thailand Industry Update – Eco-cars Lead B90bn Projects

By on Oct 22, 2014 in Industrial, Retail

The Board of Investment (BoI) has approved investment applications worth nearly 90 billion baht, mainly for companies making environmentally friendly cars or involved in renewable energy. Secretary-general Udom Wongviwatchai said the BoI approved investment applications worth 89.7 billion baht at Friday’s meeting chaired by Prime Minister Prayut Chan-o-cha.  The investment is mainly for 18 large projects, with six worth a combined 52.7 billion baht slated for the second phase of the eco-car scheme.

Ten car makers including the five existing eco-car manufacturers officially applied in April for the second phase of the eco-car scheme, with total expected investment of 139 billion baht.  The 10 projects are set to produce 1.58 million eco-cars, with investment about 110 billion baht greater than the combined outlay from the five manufacturers in the first phase.

Other projects approved by the BoI include Bang Pa-In Cogeneration Co’s power plant worth 5.34 billion baht and K.R. One Co’s wind plant worth 6.2 billion baht.  Businessman Chang Hsien-ming will invest 2.45 billion baht in Chon Buri to manufacture 80,000 tonnes of steel parts and 4,000 tonnes of industrial machinery a year, while Thai Asahi Kasei Spandex Co will produce 3,700 tonnes of spandex thread a year worth 1.2 billion baht.  MMTH Engine Co will make 1.19 million plastic parts a year with an investment of 1 billion baht.

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