The Industrial Estate Authority of Thailand has signed an agreement with three industrial organisations to launch a plastics-manufacturing base in Tak province’s Mae Sot district within three years.
Industry Minister Chakramon Phasukvanich said Thursday that IEAT signed a memorandum of understanding with PTT Global Chemical Plc, the Federation of Thai Industries and the Plastics Institute of Thailand to study the development of a plastics complex on a 2,000-rai plot in Mae Sot, hoping Thailand will export plastics products from the district to Myanmar.
The minister said Thai-Myanmar trade through Mae Sot was increasing quickly. He predicted the value would rise from 70 billion baht last year to 100 billion baht this year.
IEAT governor Verapong Chaiperm said the factory-estate operator would develop the infrastructure, while PTT Global Chemical will supply plastic pellets and the federation's Plastic Industry Club will coordinate production and marketing. The plastics institute will advise on production technologies and marketing, he added.
He estimated construction would cost about 2 billion baht and that the facility should attract about 10 billion baht worth of investment from manufacturers of plastics products.
He expects the industrial zone to be ready for commercial operation in 2017.
Mae Sot is one of border areas where the government intends to create special economic zones to boost trade and businesses with neighbouring countries.