BANGKOK, March 24 Thailand approved four
investment applications worth more than 161 billion baht ($4.65
billion) and a promotion scheme for electric cars, the state
investment agency said on Friday.
Of the pledges, Thailand's Gulf Group will invest in two
electricity generating projects worth a combined 118 billion
baht, the Board of Investment (BOI) said in a statement.
In addition, two units of PTT Pcl, Thailand's
largest energy firm, will invest a combined 43.5 billion baht in
gas transportation systems, it said.
The agency also approved tax incentives to promote
production of three types of electric cars in Thailand, Hirunya
Suchinai, the head of BOI, told a new conference.
Applications for production of hybrid electric vehicles and
plug-in hybrid electric vehicles must be made this year and
those for battery electric vehicles by 2018, she said.
The scheme, aimed at attracting demand for environmentally
friendly vehicles, will be submitted for cabinet approval next
Tuesday, Industry Minister Uttama Savanayana said.
Thailand is a regional manufacturing hub and export base for
the world's top carmakers. The auto industry accounts for about
10 percent of the country's gross domestic product.
($1 = 34.66 baht)
(Reporting by Pracha Hariraksapitak; Writing by Orathai
Sriring; Editing by Kim Coghill)