Thailand SCG looking into high-value-added prospects for EEC
Source：Bangkok Post
From：Taiwan Trade Center, Bangkok
Update Time：2018/08/02
Siam Cement Group (SCG), Thailand's biggest cement maker and industrial conglomerate, is conducting a feasibility study for project investment in the Eastern Economic Corridor (EEC).
SCG is keen to invest in logistics and services, as well as robotics and automation systems for repair and maintenance at its plants.
SCG is also studying investment in high-value-added (HVA) chemical products.
Chaovalit Ekabut, vice-president for finance and investment, said most of SCG's plans are related to the 10 targeted industries under the S-curve, which the Thai government is mobilising to promote the Industry 4.0 initiative.
For logistics and services, SCG has a subsidiary to support both domestic and foreign markets, and the EEC scheme will beef up demand for the country's logistics sector, mainly in three strategic provinces: Chachoengsao, Chon Buri and Rayong.
"SCG is focusing on the HVA projects that match up with the government's ambitious goals," Mr Chaovalit said. "SCG is studying the benefits of the EEC scheme, which will become more apparent and should be seen with expanded investment and the completion of megaprojects."
He said SCG is reviewing its investment budget for the EEC and has yet to reach a conclusion on the total budget.
SCG has many existing projects in all three provinces, Mr Chaovalit said.
SCG recently announced that 40-50 billion baht had been earmarked for investment at home and abroad for 2018.
Meanwhile, Industry Minister Uttama Savanayana said the government has signed a memorandum of understanding (MoU) to set up R&D units for robotics and automation systems in Thailand.
Under the MoU, the ministry has teamed up with 14 government agencies and private sector firms, including the Board of Investment, the EEC Office, the Industrial Estate Authority of Thailand, SCG and WHA Corporation Plc.
For the initial phase, the government is speeding up implementation of large projects, including the high-speed railway linking three large domestic airports, two deep-sea ports and a new airport.
The government expects more than 1.7 trillion baht in infrastructure projects to be completed by 2021.
The EEC scheme is aimed at upgrading Thailand through high technology and innovation, as the government is aiming for the country to escape the middle-income trap in the next 20 years.