Ford Signs 15.5b Baht Loans With Thai Banks for Plant Expansion

Ford Motor Co. (F) said it has secured 15.5 billion baht ($509 million) worth of loans from three Thai financial institutions to fund a new passenger car manufacturing plant in eastern province of Rayong.

Bangkok Bank Pcl (BBL), TISCO Bank Pcl and the Export-Import Bank of Thailand provided the loans, according to an e-mailed statement from Ford’s local unit and the banks.

The new plant will have initial capacity of 150,000 units per year and will begin making Ford Focus models in 2012 for Thailand and Asian markets, the statement said.

To contact the reporter on this story: Supunnabul Suwannakij in Bangkok at ssuwannakij@bloomberg.net

To contact the editor responsible for this story: Margo Towie at mtowie@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.