Investment body approves 11 rehabilitation projects from last year’s flood

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BANGKOK, June 22 – Thailand’s Board of Investment (BOI) on Friday approved rehabilitation privileges for 11 projects following last year’s flood, worth over Bt5.2 billion.

Industry Minister Pongsawat Svasti said after the subcommittee met to considering flood-response investment promotions to boost restoration after the mega flood.

The 11 companies included Pepsi-Cola (Thai) Trading with a Bt2.3 billion business expansion as a new project in Ayutthaya, Thai Glico with a Bt250 million business expansion for snacks in Pathum Thani for higher domestic demand and exports, Nidec Machinery (Thailand) with a Bt3.8 million investment for machinery used in the electronics industry in Pathum Thani, B.S. Kamiya for metal enameling in the autoparts industry with a Bt60 million investment at its same location in Ayutthaya.

Companies producing electronics and metal parts for hard disk drives were also approved. Shin-ei Precision (Thailand) at Bt327 million, and Section Technologies (Thailand) at Bt1.1 billion, both in Ayutthaya province.

Other firms approved were AGC Electronics (Thailand) for electronics glass components, getting an investment promotion of Bt890 million in Lamphun province, and metal manufacturing company Single Point Parts (Thailand) Plc, also for electronics products, was granted at Bt85 million investment value in Ayutthaya.

According to the Industry Minister, the panel previously approved six flood-affected investment projects with a total investment value of Bt4.4 billion, five at the same sites due to their confidence in the government’s water management plan.

Meanwhile, BOI Secretary-General Atchaka Sriboonrueng said the ministry and her agency had previously approved measures to help entrepreneurs affected by flood, including tax exemption for machinery imported to replace flood-ruined equipment.

She said another 42 investment projects damaged by last year’s flood await approval and 19 new projects in flooded areas also awaiting BOI’s green light.

Mrs Atchaka noted the recovery of the industrial sector is obvious. Over 400 projects were approved for importing replacement machinery after the flood, valued at Bt97 billion, while almost 80 projects with a total investment value of Bt41 billion, have applied for investment promotions under flood-assistance measures, and measures to aid infrastructure construction projects in industrial estates.