This move is part of a planned restructuring of its rigid plastic packaging business.
The private equity fund will invest in startups in education and related fields in the emerging countries of South and Southeast Asia.
The company had earlier indicated that it would allocate a budget of over 300 million baht ($9.5 million) to invest in startups globally.
Construction on the new facility in Toda is expected to start in August this year and will be completed by the end of October 2020.
STEC also approved the development of a $245-million office project on Mo Chit Land plots in Bangkok.
Clozette will use most of funds to scale its data-driven content and analytics platform and expand into new markets, starting with Thailand.
IPOs & Markets
The IPO proceeds will be used to develop new real estate projects, pay down debt and meet working capital requirements.
Mos Food had terminated its initial local partnership in 2016 after seeing only six outlets survive since launching in Thailand in 2007.
Following the deal, both players will enjoy over 70 per cent market share of the country’s OOH advertising industry pegged at $377.76 million.
This is the first Series C investment by the venture capital arm of Thailand's Siam Commercial Bank.
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