The Treasury Department plans to call for bids to develop a special economic zone on its land in Tak province, in line with the government's development policy, says director-general Prapas Kong-Ied.
Mr Prapas said the bidding is expected to take place in May.
The plot occupies 1,076 rai in Mae Sot district.
The department set the annual land rental fee at 36,000 baht per rai, or a total of 38.75 million baht for the whole plot per year. The rental fee increases by 15% every five years.
The winning bidder must make a one-off payment of 269.11 million baht, while the lease term is 50 years. The zone offers investment incentives to 13 targeted industries.
The bidders must be juristic persons under Thai law with registered capital of at least 50 million baht.
If the bidder is a joint venture, it must have registered capital of at least 50 million baht and experience developing at least one real estate project.
The department also rented 671 rai in the province to the Industrial Estate Authority of Thailand for a fee of 25,200 baht per rai per year, or a total of 16.9 million baht per year. The fee increases by 15% every five years.
Mr Prapas said the development of special economic zones is one of the government's key policies under its 20-year national strategy to ensure the country's sustainable development.
The Treasury Department owns plots totalling 12.5 million rai across Thailand. Most are used by state agencies, with the rest rented out for commercial and farming development.