PTT Invests ฿3 billion in EECi and Provides Space Leasing for Community Zone in 3Q19

PTT Public Company Limited (PTT) has revealed that PTT is preparing to invest THB3 billion in the development of the fundamental system to support the first phase of Eastern Economic Corridor Development (EECi). EECi is located in Wangchan Valley with 3,500 rai in Rayong. The EECi aims to develop growth and bring innovative engines to Economic corridor development. Additionally, the EECi phase1 consists of 3 zones which expect to be fully developed in 10 years.

In July 2019, PPT will sign the lease agreement with Global Power Synergy Public Company Limited (GPSC) for operating the solar farm and solar floating 2MW. Moreover, the National Science and Technology Development Agency (NSTDA) has also leased the additional area around 200 rai for the Synchrotron group.

As for the Community Zone, there is totally 100 rai which PTT has prepared to open for people who are interested in the area to establish an international school, hotel and community mall. The invitation to bid with the 30 years contract for establishing the international school will be firstly draft before the 3Q/19 and will continue to develop other areas later on which expects all of the area to complete in 2022.

Mrs. Hong Sricharoen Varavoor, PTT Vice President Corporate and Project Director of EECi at Wangchan Valley Project, has informed that Innovative Zone is the 1 out of 3 zones of EECi Phase1. Previously, in the part of Education Zone, PTT had invested approximately THB10 billion to establish Kamnoetvidya Science Academy School (KVIS) and Vidyasirimedhi Institute of Science and Technology (VISTEC) which is the place to create scientists, technologies and innovations to support the Innovation System.

Mr. Wittawat Svasti-xuto, director to the Nomination & Remuneration Committee of PPT has revealed that petroleum and natural gas business of PPT is the one industry that has received the impact of disruptive technology. As a result, PPT has to adapt and respond to a trend of disruptive technology by creating own innovation as well as developing the existing research which emphasizes on oil and natural gas to present them in the future market.

Furthermore, Mr. Wittawat has also mentioned to another business of PTT which currently, PTT has invested in the business of Startup or Corporate Venture Capital (CVC). In this business, PTT is also not only receive the return investment but PTT also has a chance to further develop new technology which in these 2 years, PTT has been investing 7 funds and 2 startups. Moreover, PTT also plans to develop the Innovation Institute PTT at Wang Noi, Ayutthaya to be the beginning point for the development of the startup.