The Cabinet has approved 15.2 billion baht to increase the investment limit for two electrical power projects and enhance energy security in the Eastern Economic Corridor (EEC).
Deputy Government Spokesperson Rachada Thanadirek said the projects are part of an initiative to improve the transmission system in the EEC. The aim is to enhance the stability of the electrical system project, known as TIPE, as well as the transmission system development project for purchasing electrical power from Independent Power Producers, Phase 3 (IPP3).
“This will ensure both Thai and foreign investors that the EEC project is a long-term investment-promotion policy that will continue, although this current government is to step down after the incoming general election,” Kanit said.
The TIPE project saw 9 billion baht added to the investment fund following a previous approval for 12 billion baht. The total investment value now stands at 21 billion baht.
The government increased funding for the IPP3 Project by another 6.2 billion baht from the previously approved 7.25 billion baht, bringing the total to 13.45 billion baht.