To drive concrete development of the Eastern Economic Corridor (EEC), Thailand’s Board of Investment (BOI) has recently approved investment incentive scheme.
New incentives apply for the bidding winners of U-Tapao Airport’s Passenger Terminal 3 and Digital Park Thailand (EECd) development projects, two among six major development projects in EEC.
With the biddings for the development of both projects planned for late 2018, BOI has offered the incentive scheme to attract more investors to participate in the biddings.
When completed, the two projects will play a key role in moving the EEC forward as a new regional business hub and accelerate the government’s plan to transform Thai economy.
In case the developer has cooperation with an educational institution to develop human resources, and BOI will grant 50% reduction of CIT for another three years under the EEC investment incentive scheme.
The U-Tapao Airport’s Terminal 3 is part of the Aerotropolis development project.
Under public-private partnership format, the Aerotropolis would include the construction of a 7.1 billion-USD (233-billion-baht) Passenger Terminal 3 which will increase the airport’s passenger handling capacity from 5 million passengers to 22 million passengers in 2033, and increase flight handling capacity from currently 25,000 units per year to 120,000 aircraft per year by 2033.