BANGKOK (Reuters) - Thailand's Board of Investment (BOI) on Monday approved a joint venture between state-owned energy firm PTT and Hana Electronics to build a chip factory.

The first phase will have investment worth 11.5 billion baht ($350 million) and will begin in two years, the BOI said.

($1 = 32.8900 baht)

(Reporting by Kitiphong Thaichareon, writing by Chayut Setboonsarng, Editing by John Mair)