The Industrial Estate Authority of Thailand (IEAT) plans to build a new industrial estate in Chachoengsao worth 4.85 billion baht in two years to serve new industries, including electric vehicle assembly.
The estate is in the Eastern Economic Corridor (EEC).
The new industrial estate, a joint investment between IEAT and the Double P Land Co, aims to serve the EEC high-tech industrial hub, with prospective investors expected to come from various modern industries, including the energy storage segment.
The new industrial estate is named Bluetech City.
"The government expects Bluetech City will generate 33.2 billion baht in economic and investment value and create around 8,300 jobs in the EEC," said Veeris Ammarapala, governor of IEAT.
Parts of Chachoengsao, Chon Buri and Rayong form the EEC zone on the east coast.
Bluetech City, to be built on 1,181 rai, is 44 kilometres from Suvarnabhumi airport, 60km from Laem Chabang deep-sea port in Chon Buri and 119km from Map Ta Phut deep-sea port in Rayong.
The new estate is projected to have a mix of industrial zones (70%) and infrastructure and green areas (30%) under IEAT's eco-industrial town concept.
There are currently 38 industrial estates with more than 6,000 factories in the EEC.
Mr Veeris said industrial estates in the EEC will play a key role in driving investment and drawing investors.
Land sales in the EEC stood at 748 rai from October 2020 to June 2021, according to IEAT.
Key industries include car manufacturing, which made up 13.8% of total investment value, steel and metal production at 10.8%, as well as rubber, plastics and artificial leather manufacturing contributing 7.8%.
China invested the most in EEC industrial estates in terms of foreign outlays (15.2%), followed by Japan (12.1%) and Singapore, South Korea and the US (9.09%).
The trade war between the US and China caused investors, especially those in China, to relocate their facilities to Asean countries including Thailand, Mr Veeris said earlier.