LOS
ANGELES, June 18, 2024 /PRNewswire/ -- The
Thailand Board of Investment
(BOI) approved the investment
promotion applications of eight large projects worth a combined
USD 1.54 billion (56.95 billion baht), including a bio-ethylene
plant project by the local joint venture of Brazil's Braskem, as well as data centers,
power plants, and a major new hospital.
The meeting, which was chaired by Mr. Pichai Chunhavajira,
Deputy Prime Minister, Minister of Finance, and Chairman of the
BOI, also approved the
introduction of a new investment promotion category covering
service centers for the repair, repack, and reuse of used electric
vehicle (EV) batteries and energy storage systems, that further
complements the BOI's
comprehensive EV supply chain policy and incentives. Another new
category was approved to support the data hosting business, to
match the rising demand for this type of activity and complement
the investment incentives already offered to support the
development of the digital industry. The Board also approved a new
promotion package for Quarantine Facilities for Animals for export
to help improve quarantine and certification services for
international trade of livestock.
"The applications approved are large investment project by both
foreign and local investors in key target industries of importance
to the Thai government and the future development of the economy,
such as projects helping to protect the environment and supporting
the country's digital transformation," said Mr. Narit
Therdsteerasukdi, Secretary General of the Thailand Board of Investment (BOI), after the board meeting.
The Board also approved new incentives for automotive parts
makers investing to upgrade their technological level and improve
their productivity, and/or invest to transition their operations to
serve new industries, such as the medical equipment or aviation
sectors.
Project Approvals
- Braskem Siam Co., Ltd., a joint venture between Braskem, the
leading global biopolymer producer, and Thailand's SCG Chemicals PCL, received
approval for a USD 521 million
investment to build a plant to produce up to 200,000 tons/year of
bio-ethylene (or green-ethylene) from bio-ethanol from agricultural
products such as sugarcane, cassava, and corn. The plant will be
located in Map Ta Phut Industrial Estate, Rayong province.
Bio-ethylene is used to make a variety of environmentally friendly
products, from packaging for food and beverage to personal and home
care products, toys, houseware, and plastic bags.
- The Board approved two large data center projects, aiming to
support the economy's digital transformation, and the
fast-increasing demand for cloud computing, IoT and AI.
- A multinational company headquartered in the United States received approval for a
USD 194 million investment in a data
center in Samut Prakan province.
- True Internet Data Center Co., Ltd. received approval for a
USD 90 million investment to expand
one of the company's four existing data centers, which is located
at the True IDC East Bangna Campus, also in Samut Prakan
province.
- Bumrungrad International Hospital Phuket Co.,Ltd. received
approval for a USD 134 million
investment to build a 212-bed hospital and Advanced Diagnostic
Center. The project aims to attract foreign medical tourists to
Phuket, which is Thailand's main international tourism hub.
- National Power Plant 12 Co., Ltd. received approval for a
USD 254 million investment to build a
plant to produce electricity and steam from biomass fuels,
such as black rubber oil, a by-product of the paper pulp production
process. The plant, which will have a production capacity of 130
megawatts of power and 576 tons/hour of steam, will be located in
the 304 Industrial Park in Prachinburi province.
- The SCG Group received approval for a USD 162 million investment in a cogeneration
power plant with a production capacity of 130 megawatts of power
and of 160 tons/hour of steam. The plant will be located in Map Ta
Phut Industrial Estate, Rayong province, and will serve electricity
to factories in the industrial estate.
- Super Earth Energy 8 Co., Ltd., received approval for a
USD 77 million investment to build a
plant to produce electricity from waste. The plant, which will have
a 20 megawatts capacity, will be located in Nonthaburi
province.
- Thai Lion Mentari Co., Ltd., the operator of Thai Lion
Air, received approval for a USD 105
million investment to acquire 10 aircraft, representing a
total passenger capacity of 2,072 seats, total cargo capacity of
84.60 tons.
Support to Thai Startups
Also today, a meeting of the Commission on the National
Competitiveness Enhancement for Targeted Industries Policies, for
which the BOI acts as the
secretariat, approved measures to promote high potential startup
enterprises operating in target industries from the Pre-Series A to
Series A level. Qualified Thai startups with high growth potential
may receive cash support ranging from USD
540K to 1.3 million in the form of matching funds. The
policy aims to help increase the country's competitiveness and help
foster an economy driven by technology and innovation.
*1 USD is approximately
equal to 37 THB
ABOUT THAILAND BOARD OF
INVESTMENT, LOS ANGELES
OFFICE
Thailand Board of Investment
(BOI) is a government agency under
the Office of the Prime Minister. Our roles and responsibilities
are promoting and facilitating foreign direct investment (FDI) into
Thailand. We are the professional
contact point for companies, providing them with useful investment
information, business support, and investment incentives including
tax and non-tax incentives.
BOI, Los Angeles office's area of responsibility
includes the West Coast U.S. and Mexico. Our services are free of charge and
customized to help foreign businesses succeed in Thailand.
For more information, please visit www.boi.go.th
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SOURCE Thailand Board of
Investment