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Thailand pumps money into energy projects serving economic growth

Energy Minister of Thailand Supattanapong Punmeechaow is urging officials to speed up the capital spending of 300 billion THB (some 8.9 billion USD) to help restore the COVID-19-ravaged economy.
Thailand pumps money into energy projects serving economic growth ảnh 1A solar power plant in Thailand (Source: Reuters)
Bangkok (VNA) - Energy Minister of Thailand SupattanapongPunmeechaow is urging officials to speed up the capital spending of 300 billionTHB (some 8.9 billion USD) to help restore the COVID-19-ravaged economy.

The budget allocation is scheduled for 2021-2026 to supportenergy projects, ranging from upstream and downstream oil and gas operations topetrochemical and power generation businesses, in both the state and privatesectors. Among the prominent projects are those for renewable energydevelopment, now part of the government's agenda to achieve carbon neutralityby 2050. The Thai Government also plans to spend money on developing electricvehicle infrastructure and modernising the power grid network.

Local officials will continue with the "Energy forAll" renewable scheme, which encourages communities and businesses tojointly invest in power generation facilities using biomass and biogas asfuels.

Kulit Sombatsiri, permanent secretary for energy, said thegovernment will also spend money developing new petrochemical industries whichwill not only depend on oil and gas but also agricultural products over thenext three decades.

This year, Thailand has so far spent almost 97 billion THBduring lockdown periods to aid subsidy programmes to relieve people's livingcosts./.
VNA

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