By Newley Purnell

After nearly a year, the Map Ta Phut saga might finally be coming to a close. Roughly $10 billion worth of projects, as you may recall, have been suspended in the Map Ta Phut industrial estate since September 2009. The projects were halted by a Thai court ruling after a lawsuit by an environmental group and local people complaining of severe pollution in the area.

The court issued an injunction; Prime Minister Abhisit Vejjajiva’s administration appealed; a few projects were allowed to re-start; and now we might be inching toward a resolution, with most of the projects green-lighted to continue.

Why does the case matter? First, the concerns about adverse health effects for the people who live near the estate, in Rayong province, are very real: government statistics show high cancer rates in the area.

From a business standpoint, the stalemate had resulted in consternation among investors who wondered how the government might regulate environmental laws in the future.

Moreover, the case reflected a lingering consequence of the 2006 military coup. That’s because the 2007 constitution — which came about after former Prime Minister Thaksin Shinawatra was overthrown — had more stringent environmental stipulations than the previous charter. Many of the suspended projects had begun before the new constitution was in place, companies argued, so how could they be in compliance?

Well, investors have been heartened by the most recent news: Thailand’s Central Administrative Court ruled last week that 74 of the 76 suspended projects can proceed.

The Thai cabinet recently approved a list of categories for the kinds of projects that need environmental clearance, clarifying the legal process.

But while investors are feeling optimistic, residents are still upset. And as for the group that filed the original lawsuit, they say they’ll appeal the court’s newest ruling.

Newley Purnell is a journalist in Bangkok. You can find him on Twitter at @newley.