IEAT Inks the Deal with GULF-PTT to Develop MTP 3, Expecting to be Fully Opened in 2025!

On October 1, 2019, Industrial Estate Authority of Thailand (IEAT) has announced that the cabinet has approved the investment for an expansion of Map Ta Phut industrial estate in the Map Ta Phut Industrial Port, Phase 3 Project (Phase 1) or MTP 3 by 1,000 rai of land reclamation.

 

In reference to the project, IEAT has signed an agreement with Gulf MTP LNG Terminal Company Limited, a joint venture of Gulf Energy Development Public Company Limited (GULF) and PTT Tank Terminal Company Limited, who had won the bidding for MTP 3. The agreement will be Public Private Partnership (PPP) NET Cost, giving private companies the rights for business operation on the project area for a total of 200 rai and allocate a portion of earnings to the government as agreed.

 

The total investment of MTP 3 is 55,400 million baht, divided into two phases and expected to be fully opened in 2025.