Thailand’s Board of Investment (BoI) has laid out a plan to attract aerospace investment to U-Tapao airport in 2019 as part of the Government’s Eastern Economic Corridor (EEC) development (Illustrative image: www.bangkokpost.com)
 
Bangkok (VNA) – Thailand’s Board of Investment (BoI) has laid out a plan to attract aerospace investment to U-Tapao airport in 2019 as part of the Government’s Eastern Economic Corridor (EEC) development. 

The first phase will develop 1,040ha for the airport and an aviation hub, which includes a new terminal to serve 15 million passengers in the next five years; a second runway; a business zone; a maintenance, repair, and overhaul (MRO) facility; and air cargo space.

The Royal Thai Airforce plans to announce the winning bidder for the first phase in March, with the document submission deadline on February 28. 

The project’s construction is expected to be completed by 2023, and operations are to begin by 2024. The Airforce also aims to launch terms of reference for the MRO facility’s second phase at U-Tapao airport in February.

The EEC Office is planning to develop the next step, an “aerotropolis” that stretches 30km from U-Tapao airport. The aerotropolis is a planned location for companies related to aerospace, medical, fashion, and e-commerce industries. The BOI will organise roadshows to draw investment from Europe and the US to Thailand’s aerospace industry. 

In a related event, the BoI recently approved incentive schemes under the seven-year strategic investment promotion plan (2015-21), which are expected to contribute 418 billion THB (13.1 billion USD) to the country’s gross domestic product and also orientate the economic structure towards science and technology. –VNA