IEAT eyes development of two industrial estates
Board OKs B9.83bn for Ang Thong, Rayong
The Industrial Estate Authority of Thailand (IEAT) plans to form a partnership with two private companies to develop and operate two new industrial estates worth 9.83 billion baht.
The IEAT's board has already approved the proposal.
IEAT governor Veerapong Chaiperm said the first location is in Ang Thong province on a plot of 1.398 rai with total investment of 4.2 billion baht.
Mr Veerapong said the agency has teamed up with Park Industry Co, a subsidiary of Singha Corporation.
Both parties plan to develop the industrial estate of World Food Valley Thailand during 2018-19 and sell all developed plots to investors by 2022.
"In this project, we will provide an industrial zone covering 62%, with the rest of the zones comprising an infrastructure area using 21.3%, a green area of 14.2% and a commercial area of 2.5%," Mr Veerapong said. "We expect to attract future investment of 40 billion baht in Ang Thong and create 6,300 jobs."
World Food Valley Thailand is the government's initial project under the Industry Ministry, aimed at getting the private sector to join and help small and medium-sized enterprises (SMEs) and local farmers create value-added food and farm products.
This project also aims to promote and upgrade the country's food products to make them more competitive in the global market.
Veerapong: 6,000 jobs at World Food Valley
Last year, the Industry Ministry, the National Food Institute, the Office of Small and Medium Enterprises Promotion and SME Development Bank signed a memorandum of understanding (MoU) to develop World Food Valley Thailand.
The IEAT also plans to develop and upgrade value-added food processing and food packaging at the site.
Mr Veerapong said the second project is the CP Industrial Estate, a partnership with CP Land Plc, the property arm of Charoen Pokphand Group.
Plans call for an investment budget of 5.63 billion baht to develop a 3,068-rai plot in Rayong province, within the Ban Khai and Nikhom Phatthana districts.
The project aims to promote new investment in line with the flagship Eastern Economic Corridor project, mainly focusing on electronics, home appliances and parts, next-generation vehicles, digital gateway, processed agriculture products, bioplastics, medical equipment, services and infrastructure.
"We plan to both sell and lease in CP Industrial Estate and expect full capacity by 2023," Mr Veerapong said. "It will mainly target Chinese investors."