Thailand eyes investments worth USD 10Bn for Rubber City.
The Thai government is eying US1D 10 Billion worth of investments for the development of Rubber City which is expected to be located in the Southern Region Industrial Estate of Hat Yai.
The project, will span across 364ha or half of the industrial estate area, will be developed by the Industrial Estate Authority of Thailand.
The Rubber City has plans to attract investors who would like to develop the rubber-processing industry and at the same time, increase the value of rubber products in Thailand while encouraging employment.
Thai ambassador to Malaysia Damrong Kraikruan said at a media briefing last week that the focus would be to add value to the raw rubber produced.
He added that, “Thailand produced some 4.1 million tonnes last year in raw materials (rubber). We process only 10% and the rest is for export. With this Rubber City in place, we hope to achieve 15% to 30% later on,” he said, adding that the plunge in rubber prices had affected Thailand’s rubber industry. “We hope to attract investments from Malaysia. Right now investors from China have expressed their interest in the Rubber City.”