BANGKOK: Thailand has approved five investment project applications worth about 41.8 bil baht (RM5.73 bil) and measures to strengthen the agricultural sector and agro-industry, the state investment agency said Wednesday.
Of the pledges, Thai Oil will invest 24.1 bil baht to produce 250 megawatts of electricity using oil waste, while B.Grimm Power will spend 6 bil baht on a natural gas-fired power plant, the Board of Investment (BOI) said in a statement.
Summitr Group will invest 5.5 bil baht to produce about 30,000 electric battery-powered vehicles a year, mainly for the domestic market, the BOI said.
Envico will invest about 2.47 bil baht to produce recycled plastic pellets, and Bangkok Arena will spend about 3.75 bil baht to build a convention hall, the BOI said.
“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,” BOI secretary-general Duangjai Asawachintachit said.
The agency said it had also adjusted investment promotion terms and benefits for the agricultural industry to encourage the use of technology and innovation. – June 17, 2020, Reuters
