TMT's new facility approved
The Cabinet on Monday approved the Tobacco Monopoly Thailand's plan to build a new manufacturing facility in Bangkok, with the total budget of Bt16.2 billion. The project will run from 2008 to 2012.
TMT will open bid for the construction and infrastructure systems, where local contractors will be sought.
The international bid would be launched for the procurement of machinery and equipment, where foreign suppliers are invited to join.
Due to the spending, TMT will have to reserve some profits, which are to be remitted to the Finance Ministry, for the expenses. In 2008, TMT plans to reserve upto Bt4.66 billion and in 2009 another Bt4.68 billion. Combined with its current reserves of Bt6.85 billion, TMT would have Bt16.2 billion to finance the project.
The current facility in Bangkok covering 312 rai would become part of Benjakitti Park within 2011. The new facility would be capable of producing 32,000 million cigarettes per annum.
- The Nation
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