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SINGAPORE (Dow Jones)– Thailand”s state-owned Rubber Estate Organisation plans to invest THB500 million ($15.5 million) to set up three rubber-processing plants in northeastern Thailand, the Bangkok Post reported Monday.
The organisation has received funding from the Agriculture Ministry to build the plants–with a combined processing capacity of 60,000 metric tons of rubber a year–by end-2010 in Si Sa Ket, Nakhon Phanom and Udon Thani, the organization”s director, Chuchart Tan-angsankul said in a report.
Northeastern Thailand is aiming to become a regional rubber trading hub, with 1 million rai, or around 160,000 hectares, of new plantation area expected to be ready for tapping in two years, according to another report in the newspaper.
“There are about 2 million rai of rubber fields that could be tapped today for about 400,000 tons of rubber. We expect an additional 200,000 tons of output from the 1 million-rai project sometime in 2012,” Chuwit Jungtanasomboon, an executive at manufacturer North East Rubber Co. said in the report.
The Board of Investment in the city of Nakhon Ratchasima expects rubber investment in the northeast to continue expanding this year due to the economic recovery, the paper said.
Source: Dow Jones