Thailand is set to receive a THB 40.9 billion (USD 1.3 billion) port and gas terminal on its east coast, the country’s Industrial Estate Authority (IEAT) has said.
The project is to be developed by Gulf Energy Development Pcl and state-owned PTT Pcl.
The Gulf MPT LNG Terminal Company Limited will be a joint venture in which a Gulf Energy subsidiary would have a 70% stake while a PTT entity would hold a 30% stake.
The project envisions the construction of a port and an LNG terminal with an initial annual capacity of 5 million metric tons.
The facility is scheduled to start commercial operations by 2025, and is expected to bring in more investment to the country’s industrial region.