The Thailand Board of Investment (BOI) approved five large-scale projects with a total investment value of 41.8 billion baht (US$1.35 billion) and measures to strengthen the country’s agricultural sector and agro-industry in line with the BCG (Bioeconomy, Circular Economy, and Green Economy) model.
“It is very encouraging to see that despite the global economic situation due to Covid-19, Thailand which has done well in containing the outbreak sees a continuous flow of investment,” Ms Duangjai Asawachintachit, Secretary General of the BOI, said after a board meeting chaired by Prime Minister Gen Prayut Chan-ocha.
The details of the five large scale projects approved today are as follows:
1. Sammitr Group received approval for the production of battery electric vehicles (BEV) in Phetchaburi Province, with an investment value of 5.5 billion baht. The project will have an output of 30,000 vehicles per year, mainly for distribution in the domestic market.
2. Thai Oil PCL received approval for a power project with an investment value of 24.1 billion baht to generate 250 megawatts of electricity using oil waste. The project, which is located in Si Racha District, Chonburi Province, will also have an annual output of 80,300 tons of sulfuric acid.
3. Envico Company Limited received approval for an investment of 2.476 billion baht to produce food grade recycled plastic pellets, used in the manufacture of beverage and food containers, and recycled plastic pellets (HDPE type) used in packaging for body care and household products such as liquid soap and shampoo. The project is set at the Asian Industrial Estate, Rayong…