Thailand's largest building materials company Siam Cement Group is all set to invest in renewable energy.
The company has already designed its investment plans with a special focus on environment and renewables for the next five years.
The group announced that it will invest $2.89 billion and will continue making efforts to decarbonize its businesses by the end of 2027.
According to the local reports, the company “plans to strengthen its position in manufacturing materials for solar power generation and lithium-ion batteries for electric vehicles.”
Under the solar power business, Siam Group plans to expand power generation to 3,000 megawatts by next 5 years.
Besides, the company stated that it will develop a more circular business that consists of recycling, reduction of greenhouse gas emissions and development of products with a smaller environmental footprint, the report mentioned.
To be noted, the company has set a target of achieving net zero greenhouse gas emissions by 2050.
