The Industrial Estate Authority of Thailand (IEAT) is co-developing a new industrial estate in Nakhon Sawan, focusing on the bio-economy with an investment budget of 854 million baht.
The bio-economy, part of the state's bio-, circular and green (BCG) economic development scheme, promotes the use of renewable resources as raw materials to produce energy, food and other value-added products, to eventually become a new source of revenue for manufacturers.
The new industrial complex is named LPP Nakhon Sawan Industrial Estate as its development is partially funded by LPP Industrial Estate Co.
"We expect LPP Nakhon Sawan to play a key role in driving the government's bio-economy policy by taking advantage of agricultural products and the rich biological diversity in the country," said Veeris Ammarapala, governor of IEAT.
The new estate spans 673 rai of land in Phaisali district, scheduled to start operation in 2026.
"We believe this new industrial estate will receive a good response from investors, strengthening the country's industrial sector," said Mr Veeris.
The IEAT expects LPP Nakhon Sawan to generate investment value worth 18.2 billion baht in total and 4,554 jobs.
Nakhon Sawan also houses another bio-economy-related project called the Nakhon Sawan Biocomplex (NBC) in Takhli district.
NBC is co-invested by Global Green Chemicals Plc (GGC), the biochemical arm of PTT Global Chemical, and Kaset Thai International Sugar Corporation.
GGC said earlier that it completed the construction of a biopolymer production facility at the NBC.
Mr Veeris said LPP Nakhon Sawan will also be developed under the eco-industrial town concept, which will turn part of the industrial compound into a green area.
Under this concept, renewable energy, particularly rooftop solar panels, will be also promoted, helping the government cut carbon dioxide emissions.
Thailand announced in 2021 at the 26th UN Climate Change Conference in Glasgow that the country would be more aggressive in addressing climate change, striving to reach carbon neutrality, a balance between carbon dioxide emissions and absorption, by 2050.