The Thailand Board of Investment (BOI) today approved investment promotion applications for eight large-scale projects totaling 56.95 billion baht (USD 1.54 billion). These projects encompass a bio-ethylene plant by the local joint venture of Brazil's Braskem, data centers, power plants, and a significant new hospital.

The meeting, chaired by Mr. Pichai Chunhavajira, Deputy Prime Minister, Minister of Finance, and Chairman of the BOI, also introduced new investment promotion categories. These include service centers for the repair, repack, and reuse of used electric vehicle (EV) batteries and energy storage systems, enhancing the BOI's comprehensive EV supply chain policy and incentives. Additionally, a new category was approved to support the data hosting business, aligning with the growing demand for such services and complementing existing digital industry incentives. A new promotion package for Quarantine Facilities for Animals for export was also approved to improve quarantine and certification services for international livestock trade.

"The applications approved today represent substantial investments by both foreign and local investors in key target industries crucial to Thailand's government and economic development, including projects aimed at environmental protection and supporting the nation's digital transformation," said Mr. Narit Therdsteerasukdi, Secretary General of the Thailand Board of Investment (BOI).

Project Approvals

1. Braskem Siam Co., Ltd. – A joint venture between Braskem and Thailand's SCG Chemicals PCL received approval for a 19.3 billion baht investment to build a plant producing up to 200,000 tons/year of bio-ethylene from bio-ethanol derived 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 in a variety of environmentally friendly products, including packaging for food and beverages, personal and home care products, toys, houseware, and plastic bags.

2. Data Centers – Two significant data center projects received approval to support the economy's digital transformation and the 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 existing data centers at the True IDC East Bangna Campus, also in Samut Prakan province.

3. Bumrungrad International Hospital Phuket Co., Ltd. – Approved for a 4.96 billion baht investment to build a 212-bed hospital and Advanced Diagnostic Center in Phuket, aiming to attract foreign medical tourists.

4. National Power Plant 12 Co., Ltd. – Received approval for a 9.4 billion baht investment to construct a biomass fuel power plant with a production capacity of 130 megawatts of power and 576 tons/hour of steam in the 304 Industrial Park, Prachinburi province.

5. SCG Group – Approved for a 6 billion baht investment in a cogeneration power plant with a production capacity of 130 megawatts of power and 160 tons/hour of steam, located in Map Ta Phut Industrial Estate, Rayong province.

6. Super Earth Energy 8 Co., Ltd. – Approved for a 2.86 billion baht investment to build a waste-to-energy plant with a 20 megawatts capacity in Nonthaburi province.

7. Thai Lion Mentari Co., Ltd. – The operator of Thai Lion Air received approval for a 3.89 billion baht investment to acquire 10 aircraft, adding a total passenger capacity of 2,072 seats and a cargo capacity of 84.60 tons.

Support for Thai Startups

Additionally, the Commission on the National Competitiveness Enhancement for Targeted Industries Policies, with BOI acting as the secretariat, approved measures to promote high-potential startup enterprises 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. This policy aims to enhance the country's competitiveness and foster a technology and innovation-driven economy.