MoU inked to establish EFC project

MoU inked to establish EFC project

The Eastern Economic Corridor Office (EECO) has signed a memorandum of understanding with the Industrial Estate Authority of Thailand (IEAT) and PTT Group to develop the Eastern Fruits Economic Corridor (EFC) in Rayong.

The 350-million-baht project will consist of a blast freezer and cold storage unit to facilitate the trade of value-added agricultural projects in the region.

Deputy prime minister and energy minister Supattanapong Punmeechaow said the government wants to push forward its five-year agricultural plan (2020-24) to support local farmers and increase the range of high value-added products in the Eastern Economic Corridor (EEC).

"PTT Group will supply liquefied natural gas [LNG] to support the EFC," he said.

Industry Minister Suriya Jungrungreangkit said the ministry has ordered the IEAT to prepare 40 rai of land located in the Smart Park industrial estate in Map Ta Phut, Rayong to serve the project.

"The Smart Park industrial estate has total land of 1,383.76 rai to serve the investment in the EEC," he said.

Kanit Sangsubhan, secretary-general of the EECO, expects construction of the blast freezer and cold storage unit with a total capacity of 4,000 tonnes to be completed by the end of 2021, with PTT group tasked with its construction.

"For LNG supplied to EFC, PTT has not yet estimated the quantity and price of LNG necessary, but we expect a volume amount we can produce," Mr Kanit said.

Mr Kanit says the EECO will manage and hire private trading experts, local government organisations and cooperatives and related persons to manage the project.

The government expects the economic growth in 2021 to be led by five mega projects that it claims will attract 300 billion baht in investment into the EEC.

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