Posted on 17 Sep 2012
The Board of Investment (BoI) has approved the investment promotion criteria for a steel-dust recycling plant on condition the facility use only raw materials available locally.
Yesterday's BoI board meeting, chaired by Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong, declared steel-dust recycling plants suitable for Thailand, as they recycles toxic waste. The output can be used as a raw material that is currently imported, so such facilities would help to reduce imports.
"However, steel dust is classified as hazardous waste, so we must be careful about minimising the impact to the environment and the community where the facilities will be located," said Industry Minister M.R. Pongsvas Svasti.
The Switzerland-based Global Steel Dust Co had repeatedly complained about delays in BoI approval of the project.
The BoI earlier said if many such projects were approved, then steel dust might be imported. But under the Basel Convention, to which Thailand is a signatory, EAF dust cannot be imported.
M.R. Pongsvas yesterday said interested investors must accept the condition that they use only local materials. Companies must submit applications to the BoI no later than Nov 30.
The BoI will then select no more than two investors, as only 100,000 tonnes of steel dust are generated annually from steel plants in Thailand, adequate for two recycling plants.
If more steel dust is produced in the future, then the BoI may consider approving more dust-recycling plants, said M.R. Pongsvas.
The BoI also approved 14 investment applications worth 76 billion baht including 46 billion baht worth of projects from Thai Airways International (THAI), Nok Air and Bangkok Airways for the purchase of new aircraft.
The flag-carrier THAI plans to buy three 507-seat A380-800 jets for 23.3 billion baht and two B777-300 ERs for 8.5 billion, while Bangkok Airways will buy 20 aircraft with a combined 2,753 seats at for 13.7 billion.
Other projects include a 10-billion-baht project by PTT Phenol, while another PTT subsidiary, IRPC, will spend 3.25 billion to produce polypropylene resins and compounds.
Sumitomo Rubber (Thailand) will invest 3.9 billion baht in tyre manufacturing, while Advance Asia Fiber will spend 2.65 billion on a hardboard production facility.
