The Thailand Board of Investment (BOI) has approved investment incentives for five projects with a total investment of value of over 40,462 million baht ($1.3 bln).
The highest investment proposal comes from a Chinese investor, Ju Xunning, who plans to invest 10.06 billion THB (322 million USD) to establish a car tyre production project in Chon Buri province.
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A project by General Rubber, another car tyre manufacturer, which is projected to use 35,398 tonnes of rubber per year, was also approved with an investment worth 9.72 billion THB (over 310 million USD).
This is expected to boost local rubber consumption valued over 3,000 million baht per annum.
Ms Duangjai Asawachintachit, Secretary General of BOI, said after a board meeting chaired by Prime Minister Gen Prayut Chan-ocha that the board approved large-scale projects in the automotive, aircraft heavy maintenance and repair center, and air transportation industries. The details are as follows:
1. A W (Thailand) Co., Ltd
The Japanese company was granted investment promotion incentives for its automatic transmission production project worth 7,244 million baht. Located in Chonburi Province, this project will produce and supply automatic transmissions to both local and overseas carmakers.
