National energy conglomerate PTT Plc plans to invest up to US$5 billion by 2035 under its newly launched “I-Spark” initiative, aiming to transform the Map Ta Phut industrial zone in Rayong into a model low-carbon industrial hub.
The project is expected to reduce greenhouse gas emissions by up to 9 million tonnes of carbon dioxide equivalent per year.
The company signed a cooperation agreement with four government agencies during Gastech 2026 in Bangkok, a major energy industry exhibition.
The agencies comprise the Department of Climate Change and Environment, the Energy Policy and Planning Office, the Department of Mineral Fuels and the Industrial Estate Authority of Thailand.
PTT chief executive and president Kongkrapan Intarajang said the partnership highlights the scale of the energy transition needed to achieve the project’s goals.
Building a low-carbon industrial hub will require not only cleaner energy sources, but also shared infrastructure, technology, investment and coordinated carbon management, he said.
The I-Spark initiative builds on PTT’s energy and industrial network in Rayong, one of Thailand’s most important manufacturing centres.
The project consists of three development areas. The first focuses on providing cleaner energy and decarbonisation solutions for industries, combining liquefied natural gas, renewable energy, hydrogen, ammonia, battery energy storage systems and carbon capture and storage technologies.
The second area aims to strengthen supporting infrastructure, including ports, storage facilities, pipelines and utility systems, covering the development of a carbon credit trading platform and a knowledge centre to connect businesses, government agencies, technology providers and investors.
The third area targets new high-value industries such as sustainable aviation fuel, bio-based products, speciality chemicals and the recycling of used plastics.
PTT expects these businesses to become new drivers of growth while helping to strengthen Thailand’s industrial sector.
The initiative comes as manufacturers face increasing pressure from global customers and multinational companies to cut carbon emissions throughout their supply chains.
By offering access to verified low-carbon energy and shared decarbonisation infrastructure, businesses in Rayong will be able to improve their competitiveness in export markets.
PTT said the investment reflects Thailand’s commitment to green industrial development and could help attract new manufacturers, technology partners and climate-focused investors to the Eastern Economic Corridor.