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Gunkul Engineering pulls the plug on cannabis investment

Picture courtesy of Bangkok Post

Gunkul Engineering, a Stock Exchange of Thailand (SET)-listed renewable energy firm, is halting its investment in the cannabis industry, awaiting clearer government regulations. The company, which ventured into cannabis and hemp through its subsidiary GK Hemp Group, has already spent nearly 500 million baht (US$14 million) on developing its cannabis project but is now pausing further expenditure.

The firm’s decision follows signals from Thailand Prime Minister Srettha Thavisin’s administration that cannabis might be reclassified as a narcotic. This potential policy shift contradicts the previous government’s stance, which decriminalised cannabis in 2022, aiming to foster a new economic segment based on the plant and its derivatives, such as oil extractions.

Sopacha Dhumrongpiyawut, Gunkul Chairperson, called for definitive regulations that…

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