BOI green-lights investment privileges for 5 mega projectsJune 17, 2020
The Board of Investment (BoI) has approved investment privileges for five mega projects worth over Bt41.83 billion, in a bid to kick-start Thailand’s economic engines as the country emerges from lockdown.
BoI secretary-general Duangjai Asawachintachit announced the move – expected to include exemptions on corporate tax and import duties – on Wednesday (June 17) after a BoI board meeting chaired by Prime Minister Gen Prayut Chan-o-cha.
The five operators and projects chosen to receive privileges are:
1. Sammitr Motors Group, which is investing Bt5.5 billion to manufacture battery electric vehicles (BEV) in Phetburi province with a capacity of 30,000 units annually. The project expects to use domestic materials worth Bt8.5 billion annually and will sell mostly to domestic markets.
2. Thai Oil Public Co Ltd, which is investing Bt24.11 billion to generate 250 megawatts of electricity annually from 80,300 tonnes of pitch and sulphuric acid. The project is located in Sriracha district, Chonburi province.
3. Envicco Ltd, which is investing Bt2.47 billion to manufacture recycled PET plastic beads for food and beverage packaging and recycled HDPE plastic beads for personal care and consumer product packaging. The project is located in the Asia Industrial Estate, Rayong province.
4. B Grimm Power (Laem Chabang) Ltd, which will invest Bt6 billion to generate electricity from natural gas and steam with a capacity of 157 megawatts, to be sold to the Electricity Generating Authority of Thailand and factories in Chonburi’s Laem Chabang Industrial Estate.
5. Bangkok Arena Ltd, which is investing Bt3.74 billion in the construction of convention halls for the MICE (Meetings, Incentive Travel, Conventions, Exhibitions) business, a target industry for Thailand in the 4.0 era. The project is located in the Bangkok Mall complex on Bangna-Trat Road.