Bangchak joins bioenergy intiation seeking to boost GDP by 2%
If Thailand increases the proportion of biofuel blending to 20%, it will have the potential to create the economic value equivalent to about 2% of GDP through the increase in domestic spending of about 153,000 million baht and the reduction of oil imports by about 63,000 million baht. It also helps create jobs, distribute revenues and increase energy security by reducing dependence on fossil fuels from abroad.
This approach is in line with the Royal Initiative on the Development of Renewable Energy from Resources that Thailand can produce on its own, such as the development of palm biodiesel, which reflects the concept of self-sufficiency in energy and the utilization of domestic resources for maximum benefit.
Category: Fuels
