The Board of Investment (BoI) has approved investment applications worth nearly 90 billion baht, mainly for companies making environmentally friendly cars or involved in renewable energy. Secretary-general Udom Wongviwatchai said the BoI approved investment applications worth 89.7 billion baht at Friday’s meeting chaired by Prime Minister Prayut Chan-o-cha.
The Board of Investment (BoI) has approved investment programs worth nearly 90 billion baht, mainly for businesses making eco-friendly cars or involved with alternative energy.
Site visitors towards the 2010 Bangkok Worldwide Motor Show inspect an eco-vehicle. Six projects worth 52.7 billion baht happen to be approved for that second phase from the eco-vehicle plan as Thailand hopes to become hub for eco-friendly automobiles. NATTHI AMPRIWAN
Secretary-general Udom Wongviwatchai stated the BoI approved investment programs worth 89.7 billion baht at yesterday’s meeting chaired by Pm Prayut Chan-o-cha.
An investment is principally for 18 large projects, with six worth a combined 52.7 billion baht slated for that second phase from the eco-vehicle plan.
Ford Thailand will expend 18.2 billion baht to create eco-friendly cars, with annual production capacity of 180,000 automobiles and a pair of,000 engines.
Its US peer Vehicle invested 13.1 billion baht to create 158,000 automobiles yearly.
Nissan Motor invested 6.86 billion baht to create 123,000 eco-cars and a pair of million auto parts annually, while Toyota Motor Corporation invested 1.9 billion baht to create 160,000 automobiles annually.
Meanwhile, Mitsubishi Motors (Thailand) invested 4.9 billion baht to create 233,000 eco-cars annually.
Mitsubishi also yesterday requested the BoI’s approval because of its intends to expand production capacity granted within the first phase from the eco-vehicle plan to 220,000 automobiles from the planned 180,000, needing investment of seven.7 billion baht.
Thailand released the very first phase from the plan in 2007, bringing in investment of 28.8 billion baht from Mitsubishi, Honda, Toyota, Nissan and Suzuki.
Ten vehicle makers such as the five existing eco-vehicle producers formally used in April for that second phase from the eco-vehicle plan, with total expected investment of 139 billion baht.
The Ten projects are going to produce 1.58 million eco-cars, with investment about 110 billion baht more than the combined outlay in the five producers within the first phase.
The present five producers are ready to invest 86.8 billion baht for producing 753,000 eco-cars, as the five beginners are ready to spend 52 billion to unveil 828,000 automobiles, the BoI stated earlier.
Deputy Pm MR Pridiyathorn Devakula stated the most recent BoI approval meant Thailand turn into an eco-vehicle hub.
Mr Udom stated Thailand’s automotive production was likely to achieve two million automobiles yearly within the next 3 years — 500,000 in the first phase from the eco-vehicle project and 1.5 million in the second phase.