Hi-Tech Industrial Park Co has opened a second industrial estate in Prachin Buri, Thailand
From the Bangkok Post
Hi-Tech Industrial Park Co has opened a second industrial estate worth 400 million baht after 22 years after debuting its first project in Ayutthaya.
The new estate covers 1,100 rai in Prachin Buri’s Kabin Buri district and targets mainly makers of auto and electronic parts.
Thavich Taychanavakul, managing director of the company’s wholly owned subsidiary Hi-Tech Kabin Logistics Corporation, yesterday signed land purchase contracts with three major clients for a combined area of 80 rai worth 150 million baht.
The SET-listed Hemaraj Land and Development Plc (HEMRAJ) purchased 55 rai of land for a small factory and warehouse, while Hi-Tech Nittsu (Thailand) and Aqua Nishihara Corporation acquired the other 25 rai to use for to logistics services and water and wastewater treatment.
Mr Thavich said Hi-Tech has allocated another 30 rai for power plant development and another 55 rai for a second phase of Hemaraj.
Hi-Tech conducted a feasibility study on a second industrial estate in April after the first one in Ayutthaya became heavily flooded last year.
It purchased the land from the Parkway Project, which disposed its investment in industrial land business.
The cost was not available.
Mr Thavich said all basic facilities will be ready in 18-20 months, while the project is expected to sell all its land within three years.
Sawasdi Horrungruang, chairman of the advisers to Hemaraj, said that company will spend 1 billion baht to develop the small factory and warehouse, which are expected to be operational within 18 months.
It recently upgraded this year’s land sales target to 2,300 rai from 2,000 rai, its third increase this year thanks to a solid first-half performance.
First-half land sales totaled 1,447 rai, with 67 contracts, 44 new customers and 23 project expansions from existing customers, all record levels.
Hemaraj’s full-year revenue is expected to increase by 50% from last year’s 4.23 billion baht.
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