The greenfield plant will use state-of-the-art, energy-efficient technology and will have an annual production capacity of up to 250,000 tanks. Local production will benefit manufacturers of CNG vehicles in Thailand who now must import these tanks. When completed, the project is expected to generate about 100 direct jobs and transfer high-tech skills to Thailand’s manufacturing sector.
“It will contribute to the continued evolution of Thailand’s automotive sector to higher-skilled work, and to the development of the NGV market in Asia,” said Atul Mehta, IFC Director for Global Manufacturing, Agribusiness, and Services. “This will benefit both the economy and the environment.”
Source: International Finance Corporation