Amata to develop $1bn Smart and Eco City in Laos
SET-listed Amata Corporation Plc, an industrial estate developer and operator, is continuing its overseas expansion through the US$1 billion construction of Amata Smart and Eco City in Laos.
The company has been granted a concession to develop a new industrial estate on 2,562.5 rai, or 410 hectares, in Natuey in Luang Namtha province in northern Laos.
The industrial complex will become a model for modern industrial parks, with energy-efficient infrastructure and sustainable environmental management, said Vikrom Kromadit, chairman and chief executive of Amata.
“The Amata Smart and Eco City Natuey project will start construction early this year, with a potential for expansion to 200 square kilometres [20,000 hectares] in the following phases,” he said.
The development project will be carried out by Amata’s wholly owned Amata City Lao Sole Company.
The Amata Smart and Eco City is designed to serve international investors in various industries, including logistics and warehousing, machinery, rubber and plastic products, food and beverage processing as well as chemistry and pharmacy.
The project is also aimed at helping Laos drive its GDP, bringing economic prosperity and sustainability to the country.
Amata plans to invite multinational companies and governments from China, Japan, Singapore and Thailand to help promote the Amata Smart and Eco City project, said Mr Vikrom.
They include Yokohama Industrial City and the Japan External Trade Organization.
“We will focus on working with these four countries and Laos to develop this project into its full potential,” said Mr Vikrom.
The company will also seek cooperation to support trade and investments in order to help Laos become a more competitive, attractive and modern foreign direct investment destination, he said.
So far Amata has developed industrial estates in Thailand and Vietnam, with a combined customer base of over 1,400 industrial tenants and residents. The industrial estates have also led to urbanisation, with up to 300,000 people living in nearby areas.
In Thailand, Amata is developing 10,000 rai of industrial land in Amata City Rayong and Amata City Chon Buri in the Eastern Economic Corridor (EEC).
The EEC zone, which covers parts of Chon Buri, Rayong and Chachoengsao, will be developed into a high-tech industrial hub which focuses on 12 targeted S-curve industries, including new-generation cars and medical and wellness tourism.
Amata is also pushing ahead with its Smart City project in Chon Buri. The company has completed a feasibility study with Japan’s Yokohama City, one of the world’s most successful smart cities.