Banks asked to grant extended repayment plans for frozen projects

BANGKOK, 4 December 2009 (NNT) – Finance Minister Korn Chatikavanij urges commercial banks to extend loan repayment periods for customers owning investment projects in the Map Ta Phut industrial estate following a court injunction to suspend them.

The Supreme Administrative Court on Wednesday ruled that 11 out of 76 Map Ta Phut industrial projects previously suspended could proceed. Other 65 projects remain frozen due to concerns over environmental and health effects on local residents.

Mr Korn stated that the court’s ruling would further delay the frozen projects and affect cash flow of the project owners. The minister said he believed all projects were still feasible and they would be approved if passed environmental impact assessment (EIA).

The minister added that EIA reports on the frozen 65 projects needed to be completed quickly, saying that the EIA for industrial projects was unavoidable and compulsory in all countries.