Companies interested in developing state land into special economic zones (SEZs) in Trat, Mukdahan and Nong Khai provinces can buy the bid documents between April 11 and 19, says the head of the Treasury Department.
SEZ development is a major government policy aimed at boosting investment and trade along border areas.
Rental contracts will last for 50 years, with the rental rate and fee at the auctions starting from 24,000 baht per rai per year and 160,000 baht per rai per year, respectively, said Chakkrit Parapantakul, director-general of the Treasury Department.
The department will put 2,693 rai of land plots -- 718 rai in Nong Khai, 1,080 rai in Mukdahan and 895 rai in Trat -- under the hammer. The agency will take 117 days to decide the winning bidders, he said, in part because bidders must specify how long they will take to develop the industrial estates.
Mr Chakkrit estimated the department will obtain around 500 million baht from the auctions, while the government needs to spend 1 billion on infrastructure developments such as roads, electricity and tap water systems in the areas.
The government hopes the massive employment needed to develop the areas will draw labour out of Bangkok, he said.
The government decided two years ago to set up industrial estates in SEZs in 10 provinces. Half were designated for the first phase -- Tak, Sa Kaeo, Trat, Mukdahan and Songkhla. For the second phase, Chiang Rai, Kanchanaburi, Narathiwat, Nakhon Phanom and Nong Khai were named.
As buildings in the industrial estates do not need to be transferred to the state, bid winners for the industrial estates can use the buildings to back bank loans, said Mr Chakkrit.
In February the department signed a contract to rent state land in Sa Kaeo to the Industrial Estate Authority of Thailand for SEZ development.
In related news, the Treasury Department is considering outsourcing installation of coin exchange machines at banks and department stores to private companies to put idle coins back into circulation, lowering costs to produce new coins, said Mr Chakkrit.
Outsourcing will help department officials avoid counting and checking damaged coins, he said.
The department has produced and issued 54 billion baht worth of coins into circulation, but more than 10% is likely left idle in donation boxes or kept at homes.
Mr Chakkrit said manufacturing coins always costs more than the face value of the coins.
The department intends to manufacture new coins worth 1.4 billion baht this year, including 685 million one-baht coins.