Thai sugar firm lays out US$1.43bn investment plan

Bangkok / DPA

Mitr Phol Group, Thailand’s biggest sugar and bio-energy producer, has budgeted 50.4 billion baht (US$1.43 billion) to invest in five major areas between now and 2020: sugar, renewable energy, wood-substitute materials, overseas ventures, and logistics.
President and chief executive officer Krisda Monthienvichien-chai told a news conference on the weekend that 28 billion baht would be spent on the sugar business, such as developing its facilities and water system. A further 15 billion baht will be spent on the renewable-energy business, with 3 billion baht to develop an investment plan for wood-substitute materials, 3.6 billion baht for overseas business, and 800 million baht to develop its logistics system.
About 8 billion baht of the 28 billion baht budgeted for its sugar business will be allocated according to the government’s economic stimulus measures and will be invested in projects that help strengthen the grass-roots economy according to the government’s Pracha Rath strategy, he said.
Currently, the sugar business accounts for 42.8 per cent of Mitr Phol’s sales and service revenue. Energy business contributes 17.8 per cent, wood-substitute materials 4.6 per cent, and logistics 1.2 per cent. Its business in China accounts for 27.1 per cent, that in Australia 5.8 percent, and Asean ventures 0.6 percent.