BOI nods for new PHEV project in Thai East

BANGKOK, March 15 (TNA) - The Board of Investment of Thailand (BOI) has approved its promotional privileges to a new plug-in hybrid electric vehicle (PHEV) production project by Mitsubishi Motors (Thailand) Co., Ltd. (MMTh) in the country's eastern seaside Chon Buri Province. BOI Secretary-General Duangjai Asawachintachit told journalists of the decision on Friday, after the BOI latest meeting at Bangkok's Government House, chaired by Thai Prime Minister General Prayut Chan-ocha. Duangjai said that the newly-approved 3.13 billion baht-PHEV production project will use major raw materials and parts produced in Thailand. Besides, the Japan-based major car manufacturer has reported that the company plans to also launch a related investment project on the training or the development of auto part producers in the country to support the Thai government's policy on promoting of the expanded production of electric vehicles in the Thai economy. Duangjai stated that the BOI's latest meeting also approved the construction of a railway project of the extended Orange-line electric train system in Bangkok, linking Bang Khun Non in the western side with Min Buri areas in the eastern side of the capital, proposed by the state-run Mass Rapid Transit Authority of Thailand (MRTA), and the opening of three more science and technology zones in the northern Chiang Mai, in the southern Songkhla and the northeastern Khon Kaen Provinces, after the country's first science and technology zone has already been opened in Bangkok's neighboring Pathum Thani Province. Meanwhile, BOI has set its target of about 750 billion baht for the total value of applications submitted by international investors seeking for its approvals of promotional privileges for 2019, after last year's total value of about 800 billion baht was much higher than its earlier target of 720 billion baht. (TNA)