MOL: total loss due to floods estimated at 230 billion baht

BANGKOK, December 21 (TNA) - The Ministry of Labour estimates the total loss from the recent flood crisis in Thailand at 230 billion baht. In a seminar on post-flood rehabilitation hosted by the Ministry of Labour and the German Society for International Cooperation, Director-General of the Department of Industrial Works (DIW) Arthit Wutikaro said the DIW survey of 7,500 factories, or 80 percent of the factories affected by floods in 40 provinces estimated the total loss including opportunity losses at 230 billion baht. Of the total of 230 billion baht, 86 billion was from damages to machineries, and the remaining was from damages to raw materials, unfinished products and finished products. Arthit said the DIW damage survey would be completed by the end of year. As for rehabilitation, Arthit said factories in the Navanakorn Industrial Estate in Pathum Thani would be able to resume normal production in March of next year. Meanwhile, he said the SMEs would resume normal production the earliest, and all ninety SMEs located inside the Factory Land Estate in Ayutthaya have already resumed full production. As for financial assistance for SMEs, Arthit said the government has prepared a loan credit of 140 billion baht; 100 billion would be guaranteed by the Thai Credit Guarantee Corporation, and the 40 billion would be borrowed from 14 financial institutions. Each flood-hit SME would be able to apply for a loan of 15 million baht for purchasing new machineries. Meanwhile, the Ministry of Industry had organized post-flood rehabilitation clinics to assist SMEs in repairing damaged machineries as well as electrical and water treatment systems. (TNA)