Six investment projects worth 41 billion baht, including electric vehicle (EV) manufacturing and waste-to-energy power plant development, were granted approval by the Thai Board of Investment (BoI).
“Investment in Thailand continues to improve, thanks to the government’s incentive packages that attract investors,” Narit Therdsteerasukdi, secretary-general of the BoI, said yesterday.
Among the six projects is a plan to build an EV plant by Chinese EV maker Changan Automobile.
With its investment budget of 8.86 billion baht given the green light by the BoI, the company will build the factory with an annual production capacity of 58,000 battery EVs and 36,500 plug-in hybrid EVs.
The facility will be located in Rayong.
Changan Automobile earlier announced that Thailand was its first production base outside China.
The government will develop the EV industry as electric mobility can help it reduce carbon dioxide emissions, but at the same time, it will continue to support the internal combustion engine (ICE) businesses, which have played a key role in driving the economy.
“The ICE segment helped Thailand become a major car production base in Asean and the world while EVs are a new investment trend,” said Mr Narit, stressing that both are important to the country.
Two of the investment projects approved by the BoI involve renewable energy development: C&G Environmental Protection (Thailand) Co’s 4.89-billion-baht construction of a 35-megawatt waste-to-energy power plant in the compound of the Nong Khaem waste disposal centre in Bangkok, and New Sky Energy (Thailand) Co’s 4.89-billion-baht plan to build a 35MW waste-to-energy power plant inside the On Nut waste disposal centre in the capital.
True Internet Data Center Co received approval for a 3.59-billion-baht investment to develop a data centre for businesses, which will be located in Nonthaburi’s Pak Kret district.
Songcheng Holding (Thailand) Co’s 9.54-billion-baht investment to build tourism infrastructure and attractions in Chon Buri was also granted approval.
The BoI also approved Thai Airways International’s 9.31-billion-baht acquisition of five passenger aircraft, with total passenger capacity of 1,670 seats.