Treasury Department seeks bids for 50-year land lease in Tak economic zone

Prapas Kong-iad, director-general of the Treasury Department, said two plots of state land are located in the special economic zone in Tambon Tha Sai Luad of Mae Sod district and the department will invite bids to lease the first plot.

The plot measures 1,076 rai. The Special Economic Zone Development Policy Committee resolved on May 21, 2021 to assign a subcommittee to review and increase the lease period, Prapas said.

He said the subcommittee decided to set the leasing rate of the first plot at THB36,000 per rai per year, totalling THB38.753 million for the entire plot. The leasing rate would be increased by 15 per cent every five years.

Prapas said the bidding fee would be THB269.119 million and the bid winner would be allowed to lease the plot for 50 years.

He said a bidder needs to have at least THB50 million registered capital and the bidders must be either legal entities or a joint venture with at least THB50 million registered capital. Each bidder must have had developed at least one property project, Prapas added.

The second plot of the state land, measuring 671 rai, has been leased by the department to the Industrial Estate Authority of Thailand at the rate of Bt25,200 per rai per year, totalling THB16.92 million for the whole plot per year. The rate will be increased by 15 per cent every five years. The first leasing fee is Bt167.88 million, Prapas added.

He said the department has been assigned by the government to manage state land developments in the special economic zone in line with the government’s 20-year national development strategy for achieving sustainable development goals.

He said the department supports local administrations to use state land for carrying out government missions to bring about investments in special economic zones in their jurisdiction.