# Thailand BOI Approves Investment Worth USD1.54 billion in Biochemicals, Data Centers, and Hospital

- Link: https://www.thailand-business-news.com/economics/146362-thailand-boi-approves-investment-worth-usd1-54-billion-in-biochemicals-data-centers-and-hospital
- Published: 2024-06-15T13:26:54+07:00
- Author: PR Newswire

Thailand’s Board of Investment approved large investment projects totaling 56.95
billion baht, including a bio-ethylene plant, data centers, power plants, and a 
hospital, to promote economic growth and environmental protection.

BANGKOK, June 14, 2024 /PRNewswire/ — The Thailand Board of Investment (BOI) today
approved the investment promotion applications of eight large projects worth a combined
56.95 billion baht (USD 1.54 billion), including a bio-ethylene plant project by
the local joint venture of Brazil’s Braskem, as well as data centers, power plants,
and a major new hospital.

ADVERTISEMENT

The meeting, which was chaired by Mr. Pichai Chunhavajira, Deputy Prime Minister,
Minister of Finance, and Chairman of the BOI, also approved the introduction of 
a new investment promotion category covering service centers for the repair, repack,
and reuse of used electric vehicle (EV) batteries and energy storage systems, that
further complements the BOI’s comprehensive EV supply chain policy and incentives.

Another new category was approved to support the data hosting business, to match
the rising demand for this type of activity and complement the investment incentives
already offered to support the development of the digital industry. The Board also
approved a new promotion package for Quarantine Facilities for Animals for export
to help improve quarantine and certification services for international trade of
livestock.

“The applications approved today are large investment project by both foreign and
local investors in key target industries of importance to the Thai government and
the future development of the economy, such as projects helping to protect the environment
and supporting the country’s digital transformation,” said Mr. Narit Therdsteerasukdi,
Secretary General of the Thailand Board of Investment (BOI), after the board meeting.

The Board also approved new incentives for automotive parts makers investing to 
upgrade their technological level and improve their productivity, and/or invest 
to transition their operations to serve new industries, such as the medical equipment
or aviation sectors.

**Project Approvals**

 * Braskem Siam Co., Ltd., a joint venture between Braskem, the leading global biopolymer
   producer, and Thailand’s SCG Chemicals PCL, received approval for a 19.3 billion
   baht investment to build a plant to produce up to 200,000 tons/year of bio-ethylene(
   or green-ethylene) from bio-ethanol from agricultural products such as sugarcane,
   cassava, and corn. The plant will be located in Map Ta Phut Industrial Estate,
   Rayong province. Bio-ethylene is used to make a variety of environmentally friendly
   products, from packaging for food and beverage to personal and home care products,
   toys, houseware, and plastic bags.
 * The Board approved two large data center projects, aiming to support the economy’s
   digital transformation, and the fast-increasing demand for cloud computing, IoT
   and AI:
 * A multinational company headquartered in the United States received approval 
   for a 7.19 billion baht investment in a data center in Samut Prakan province.
 * True Internet Data Center Co., Ltd. received approval for a 3.35 billion baht
   investment to expand one of the company’s four existing data centers, which is
   located at the True IDC East Bangna Campus, also in Samut Prakan province.
 * Bumrungrad International Hospital Phuket Co.,Ltd. received approval for a 4.96
   billion baht investment to build a 212-bed hospital and Advanced Diagnostic Center.
   The project aims to attract foreign medical tourists to Phuket, which is Thailand’s
   main international tourism hub.
 * National Power Plant 12 Co.,Ltd. received approval for a 9.4 billion baht investment
   to build a plant to produce electricity and steam from biomass fuels, such as
   black rubber oil, a by-product of the paper pulp production process. The plant,
   which will have a production capacity of 130 megawatts of power and 576 tons/
   hour of steam, will be located in the 304 Industrial Park in Prachinburi province.
 * The SCG Group received approval for a 6 billion baht investment in a cogeneration
   power plant with a production capacity of 130 megawatts of power and of 160 tons/
   hour of steam. The plant will be located in Map Ta Phut Industrial Estate, Rayong
   province, and will serve electricity to factories in the industrial estate.
 * Super Earth Energy 8 Co.,Ltd., received approval for a 2.86 billion baht investment
   to build a plant to produce electricity from waste. The plant, which will have
   a 20 megawatts capacity, will be located in Nonthaburi province.
 * Thai Lion Mentari Co., Ltd., the operator of Thai Lion Air, received approval
   for a 3.89 billion baht investment to acquire 10 aircraft, representing a total
   passenger capacity of 2,072 seats, total cargo capacity of 84.60 tons.

## **Support to Thai Startups**

Also today, a meeting of the Commission on the National Competitiveness Enhancement
for Targeted Industries Policies, for which the BOI acts as the secretariat, approved
measures to promote high potential startup enterprises operating in target industries
from the Pre-Series A to Series A level. Qualified Thai startups with high growth
potential may receive cash support ranging from 20 to 50 million baht in the form
of matching funds. The policy aims to help increase the country’s competitiveness
and help foster an economy driven by technology and innovation.

### Related**Posts**

###  󠀁[Bank of Thailand Raises Growth Forecasts but Warns Recovery Remains Concentrated](https://www.thailand-business-news.com/banking/337755-bank-of-thailand-raises-growth-forecasts-but-warns-recovery-remains-concentrated)󠁿

###  󠀁[Oil Prices Surge on Saudi Attacks, Raising Risks for Thailand’s Recovery](https://www.thailand-business-news.com/business/335915-oil-prices-surge-on-saudi-attacks-raising-risks-for-thailands-recovery)󠁿

###  󠀁[Thailand Faces a New Economic Test Nearly 30 Years After Its IMF Rescue](https://www.thailand-business-news.com/economics/334123-thailand-faces-a-new-economic-test-nearly-30-years-after-its-imf-rescue)󠁿

###  󠀁[IMF says AI investment is giving Thailand’s technology supply chain a boost](https://www.thailand-business-news.com/economics/333785-imf-says-ai-investment-is-sustaining-global-growth-giving-thailands-technology-supply-chain-a-boost)󠁿

For more information, please contact:
Thailand Board of InvestmentTel. +66 (0) 2553
8111Website: [www.boi.go.th](https://www.boi.go.th/)YouTube: Think Asia, Invest 
Thailand

**Source** : [Thailand BOI Approves Investment Worth USD1.54 billion in Biochemicals, Data Centers, and Hospital; Sets New Promotion Category for the Repair of Used EV Batteries and ESS](https://www.prnasia.com/story/archive/4439814_AE39814_0?rand=102387)

    ```wp-block-preformatted
    The information provided in this article was created by Cision PR Newswire, our news partner. The author's opinions and the content shared on this page are their own and may not necessarily represent the perspectives of Thailand Business News.
    ```