The Industrial Estate Authority of Thailand (IEAT) has co-developed a new dock to facilitate the transport and storage of liquid goods, including liquefied natural gas, at its Map Ta Phut deep-sea port in the Eastern Economic Corridor (EEC).
The investment, made through a public-private partnership (PPP) with Thai Tank Terminal Ltd, is one of the projects designed to construct EEC infrastructure, said Veeris Ammarapala, governor of the IEAT.
Thai Tank Terminal is a joint venture between PTT Global Chemical Plc and Royal Vopak NV, which specialises in tank and storage facilities.
The cabinet approved the project and instructed the IEAT to move it forward.
Under the PPP, the IEAT and Thai Tank Terminal will develop the new dock as well as operate and maintain it for 30 years.
The dock is equipped with a storage facility with a capacity of 723,000 cubic metres.
"For this project, Thai Tank Terminal must invest 14.8 billion baht over a period of 30 years," said Mr Veeris.
The IEAT expects the new dock to generate returns of around 20 billion baht.
The dock, which covers 182 rai, is scheduled to open in 2025.
This project is part of the third-phase development of the Map Ta Phut deep-sea port in Rayong and will play a key role in serving the export and import of liquid products, he said.
The third-phase development, which spans 1,000 rai in total, requires an investment worth 55.4 billion baht. It is divided into four periods of development.
The first period, which requires investment of 12.9 billion baht, focuses on land reclamation and dredging watercourses.
Docks for the transport of gas and liquid products as well as warehouses are expected to be developed over the three remaining periods.
Authorities and investors have spent more than 656 billion baht on developing EEC infrastructure using PPPs. Most of the budget, some 417 billion baht, came from the private sector, while 239 billion was provided by the government.
The EEC, which covers parts of Chon Buri, Rayong and Chachoengsao provinces, is expected to host 12 targeted S-curve industries, including electric vehicles (EVs), smart electronics, and affluent, medical and wellness tourism.
The government has already announced plans to support the EV industry by granting a package of incentives, including tax cuts and subsidies, to promote EV consumption and production between 2022-2023.
