Ticon Logistics Park Co (TPark), a unit of the SET-listed Ticon Industrial Connection Plc (TICON), has bought 180 rai for development of a 2-billion-baht logistics park in the Bangkok Free Trade Zone in Samut Prakan province.
Patan Somburanasin, general manager of the developer of logistics parks and ready-built warehouses, said this is a strategic move to expand its land bank on Bang Na-Trat Road, particularly in Samut Prakan's Bang Phli district, where industrial expansion is increasing.
"TPark understands the high potential in Bang Phli, which is close to Bangkok as well as to major roads with transport links that facilitate efficient logistics management between the capital and all regions," said Mr Patan.
"Unaffected by the 2011 flood crisis, Bang Phli district is considered suitable for logistics, warehouses and distribution centres of all types of wholesale and retail businesses."
He said TPark will therefore continue to expand in this district.
Development of the new TPark Bang Phli 2 will start immediately at a cost of 2 billion baht and covering an area of 150,000 square metres with warehouses for lease once completed.
Located at Bang Na-Trat Road Km 23 in Bang Phli, the Bangkok Free Trade Zone is close to the Industrial Ring Road, with access to other major roads connecting all regions of Thailand.
The site is also surrounded by other major industrial parks including the Bang Phli and Bang Pu industrial estates.
TPark now has a land bank of 600 rai in Bang Phli for both developed and undeveloped projects covering 500,000 sq m of warehouse space for lease, making it the biggest landowner in the district for this industry.
Warehouses in TPark Bang Phli 2 will be available for lease starting early next year, with full completion of the project expected by 2015, said Mr. Patan.
Shares of TICON closed unchanged yesterday on the SET at 19.90 baht, in trade worth 64.8 million baht.