The Tobacco Authority of Thailand (TOAT) wants to boost revenue by renting out prime land plots in the capital and northeastern Thailand, reports The Bangkok Post.
The authority’s acting governor Nophadol Hantanasarn said the TOAT wants to auction off three plots this year. The rental period is for 30 years. The TOAT expects earn at least THB1.3 billion ($36,87 million) from such leases.
The authority has 6,000 rai (960 ha) of plots across the country, of which 2,000 rai can be rented out as most have been leased to tobacco farmers to plant tobacco.
Nophadol insisted that the auction would be transparent and observed by representatives of the Anti-Corruption Organization of Thailand.
The state authority is scheduled to hold a market sounding event for these three plots on June 28, then sell the bid documents in August before bids are required to be submitted sometime in November.