SET-listed Ticon Industrial Connection Plc and MAI-listed Sahathai Terminal Plc have agreed on a joint venture to establish Bangkok Logistics Park Co, operating a logistics park and distribution centre on a plot of 50 rai close to Bangkok.
The venture has registered capital of 300 million baht. Ticon owns a 75% stake, with Sahathai taking the remainder.
Sopon Racharaksa, president of Ticon, said the partnership seeks to respond to the needs of customers and entrepreneurs in e-commerce, logistics and shipping.
"With these industries growing significantly in the digital age, we are confident the partnership will prosper, increase the competitiveness of both parties and enable us to deliver comprehensive services that meet customer needs," he said.
Ticon will lead a development of the logistics park and warehouses, while Sahathai will provide its solutions in shipping and terminal management for the logistics park and distribution centre.
Upon completion of the development, net lettable space is anticipated at more than 40,000 square metres. Construction is expected to commence in the third quarter of 2019.
Sauwakun Karuchit, Sahathai's chief executive, said the company's terminals for shipment presently span 315,200 sq m and consist of a container maintenance and repair facility, on-site customs clearance and marine terminal equipment.
Separately, Sahathai reported that its board approved the signing of an agreement to invest in a joint venture company to carry out the international feeder terminal project between Sahathai, Mitr Phol Sugar Corporation and Inland Services BV, a subsidiary of AP Moller Maersk, listed on the Copenhagen Stock Exchange.
The international feeder terminal project will have registered capital of 300 million baht, with a 38% stake held by Sahathai. Mitr Phol and Inland Services will hold 29% and 33%, respectively.
The three parties expect to complete the joint venture transaction in the third quarter.