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The Board of Investment of Thailand (BOI) announced on December 11 that Thailand will require all new steel projects to adopt green technologies, as part of the country's investment promotion framework for the steel industry.
The BOI noted that this initiative aligns with Thailand's overarching objective of advancing a green economy, M145-35S Grain oriented electrical steel, including its long-term targets of achieving carbon neutrality by 2050 and net-zero emissions by 2065.
Under the new promotional framework, Thailand will no longer support projects for midstream steel products that are not integrated with upstream crude steel production; additionally, it will suspend investment incentives for projects involving the production of steel sheets for industrial and construction purposes. M145-35S Grain oriented electrical steel, The BOI stated that these measures are designed to curb overcapacity within the steel industry.
Furthermore, Thailand will discontinue investment incentives for blast furnace and ironmaking projects, aiming to channel capital toward high-quality steel products—such as high-strength steel and Direct Reduced Iron (DRI)—as well as downstream and midstream steel products produced using electric arc furnaces or other environmentally friendly processes.
BOI Secretary-General Narit Therdsteerasukdi stated: "We are committed to ensuring that every investment serves the nation's development goals and creates a win-win situation for both investors and the Thai economy."
Thailand's new investment promotion framework for the steel industry forms part of the BOI's broader investment policy. M145-35S Grain oriented electrical steel, The BOI has currently approved investments totaling $7.5 billion—spanning sectors such as digital infrastructure, clean energy, and advanced manufacturing—to support national economic development.
