Thailand Board of Investment approves bio-ethylene plant project of Braskem Siam Co.
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Thailand Board of Investment approves bio-ethylene plant project of Braskem Siam Co.

Braskem Siam Co. received approval to build a plant to produce up to 200,000 tons/year of bio-ethylene

  • By ICN Bureau | June 17, 2024

The Thailand Board of Investment (BOI) recently approved the investment promotion applications of eight large projects worth a combined US$ 1.54 billion, including a bio-ethylene plant project by the local joint venture of Brazil's Braskem.

The meeting, which was chaired by 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.

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 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 Narit Therdsteerasukdi, Secretary General of the Thailand Board of Investment (BOI), after the board meeting.

The Thailand Board of Investment (BOI) today approved large-scale investment projects by foreign and local companies worth a combined 56.95 billion baht (USD 1.54 billion) in biochemicals, data centers, power plants, and a hospital. The meeting was chaired by Mr. Pichai Chunhavajira, Deputy Prime Minister and Minister of Finance, who is seen above on the right next to Miss Pimphattra Wichaikul, Minister of Industry (center), and Narit Therdsteerasukdi, Secretary General of the BOI (left).

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