The Board of Investment (BOI) has approved incentives for projects worth 56 billion baht, mainly aimed at reinforcing Thailand’s energy infrastructure.
The BOI meeting, chaired by Prime Minister Gen Prayut Chan-o-cha, approved incentives for about 56.6 billion baht worth of large investment projects. The largest of these projects is a 32.7-billion-baht port for liquefied natural gas tankers.
A co-generation power plant venture between Thailand and Singapore was among the projects approved at the meeting. The 5 billion baht plant will produce electricity and also function as a heat supplier.
To support growth in the digital industry, the BOI meeting approved incentives for two large data center projects worth nearly 10.4 billion baht. These include a joint investment project between the UK and Singapore that aims to construct an environmental sustainability-focused data center.
The meeting also approved incentives for three more large investment projects, the first being a cold-rolled steel sheet production project providing raw materials for the automotive and electrical appliance industries. The remaining projects include a gold and silver alloy production facility and an industrial waste treatment plant with a combined value of 8.5 billion baht.
BOI Secretary-General Narit Therdsteerasukdi said the approved projects will improve the robustness of Thailand’s energy infrastructure, which plays a crucial role in attracting foreign investment. This includes the establishment of local production bases. (NNT)