Thailand´s State Enterprise Policy Office has reported that the country’s state-owned enterprises (SOEs) have invested more than THB 100 billion (USD 3 billion) in energy infrastructure projects in the first half of 2021, under the government’s stimulus policy designed to sustain the recovery from the adverse economic effects of the Covid-19 crisis.
Most of the investment has been allocated for large projects led by oil and gas company PTT and the Electricity Generating Authority of Thailand, including the new liquefied natural gas (LNG) receiving terminal in Rayong, the fifth natural gas pipeline project, and a nationwide electricity transmission expansion project. Projects achieving higher-than-expected disbursement include the Thai-Chinese high-speed train project’s 1st phase (Bangkok-Nakhon Ratchasima), the Red Line electric rail project (Bang Sue-Rangsit), the high-speed train linking three airports, and the Orange Line electric rail project (Cultural Centre-Min Buri).
The government set the goal to invest a total of THB 200 billion (USD 6 billion) by the end of 2021 in these energy businesses. In May 2021, PTT and its subsidiaries announced plans to spend THB 851 billion (USD 25 billion) on upstream and downstream businesses as well as new businesses between 2021 and 2025. The largest portion of the funds will go toward the development of oil, gas and petrochemical infrastructure.
(Sources: Pinsent Masons; The Bangkok Post)