Sixteen large industrial projects worth a combined 117 billion baht won Board of Investment (BoI) approval yesterday including proposals by big regional players Toyota, IRPC and PTT.
With the BoI's green light, PTT plans to spend 23 billion baht to develop a natural gas transport network linking Ayutthaya's Wang Noi with Nakhon Sawan province, 16 billion to link Wang Noi with Nakhon Ratchasima province and 2.1 billion to link Kanchanaburi province with Myanmar's border states.
Other projects include 14 billion baht by Toyota Motor Thailand to build cars, 27.2 billion by IRPC to make propylene and aromatic naphtha, 1.2 billion by TSM Power to produce electricity from biofuel, 5.6 billion by Bowin Clean Energy to produce electricity from natural gas, 835 million by APK Green Energy to produce electricity from biofuel and 936 million by KS Marketing International to produce electricity from biofuel.
The board also approved a 3.45-billion-baht project by Tribeca Enterprise to set up an industrial estate in Rayong province.
In a related development, the BoI agreed yesterday to extend tax waivers for machinery imported to replace flood-damaged gear until Dec 31.
Industry Minister M.R. Pongsvas Svasti said 150 factories in Ayutthaya and Pathum Thani provinces are still preparing filings for tax privileges.
As of June 30, a total of 490 projects had applied for the waivers on imports valued at a combined 109 billion baht.
M.R. Pongsvas said the BoI also agreed yesterday to revamp investment privileges for big bikes, allowing 250cc production to enjoy the same privileges as 500cc.
The approval is part of a government policy to promote Thailand as a hub for building large motorcycles.
By Nanchanok Wongsamuth
02 August 2012