IBM puts $560m in Thailand

IBM puts $560m in Thailand

BANGKOK (AFP): The Thai Board of Investment approved Wednesday 14-billion-baht (US$560 million) proposal by International Business Machines Corp. (IBM) to invest in two plants in Thailand, an official said.

The board formally approved the IBM plan to set up a hard-disk drive production facility and invest in machinery for a component-manufacturing plant in eastern Thailand, said board director Suchart Phisitvanich.

Under the IBM proposal, construction on the hard-disk plant -- which is expected to produce 8.7 million units when operational, would begin in 1997.