BoI approves B42bn of investment plans

BoI approves B42bn of investment plans

Thai Oil's refinery in Sri Racha, Chon Buri in 2016. (Photo supplied)
Thai Oil's refinery in Sri Racha, Chon Buri in 2016. (Photo supplied)

TheBoard of Investment (BoI) has approved five investment project applications worth about 41.8 billion baht 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 billion baht to produce 250 megawatts of electricity using oil waste, while B.Grimm Power will spend 6 billion baht on a natural gas-fired power plant, the BoIsaid in a statement.

Summitr Group will invest 5.5 billion 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 billion baht to produce recycled plastic pellets, and Bangkok Arena will spend about 3.75 billion 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. 


Do you like the content of this article?
COMMENT (4)

Philippines protests China’s ‘provocative acts’ in disputed sea

The Philippines has protested “provocative” actions by Chinese government vessels in the South China Sea, in yet another sign of continuing tensions between the two nations in the disputed waters.

20 Oct 2021

Thailand Post tests parcel delivery by drone

Thailand Post tested drone delivery for the first time on Wednesday with a plan to start delivering medicines to patients difficult to reach by regular mail carriers.

20 Oct 2021

Myanmar's economic woes due to gross mismanagement since coup - US official

SINGAPORE: Myanmar's economic turmoil is due to political instability and mismanagement following a February coup, a US official said on Wednesday after a junta minister blamed the crisis partly on foreign backers of its opponents.

20 Oct 2021