Ticon to build logistics parks across country
Ticon Logistics Park (T Park) will invest Bt5.5 billion on the development of regional logistics parks in the Kingdom.
The company has purchased a 200-rai land plot in Khon Kaen, which will be developed into its logistics park for the Northeastern region.
Pathan Somboonsin, general manager of T Park, said the company planned to invest in the development of logistics parks and warehouses in many regions of Thailand this year with a budget of Bt5.5 billion, which would be mainly allocated for the purchase of land plots.
The development of the logistics park in Khon Kaen, at a cost of Bt2 billion, would take about three years for development. The company had already purchased s 200-rai land plot, about 10 kilometres from the city.
The expansion is aimed at widening its customer base and to serve the Asean Economic Community in 2015.
Pathan said that Khon Kaen should be a strategic location for the Eastern-Western Economic Corridor and a bridge with neighbouring pronvinces such as Udon Thani and Nong Khai.
With the development of the first logistics park in the Northeastern region, the company is confident that such a logistics complex will attract more investments from the manufacturing, retail and wholesale, and construction sector. Khon Kaen itself is seeing strong expansion in its property sector.
The company also plans to develop a logistics park at Rojana Industrial Park in Prachin Buri. The logistics park is now under design and development process, and will start to provide rent from its warehouse space in 2014. Rojana is in the process of setting up an industrial estate in Prachin Buri province. Many factories, including Honda, have already announced plans to open manufacturing facilities in the industrial estate.
Pathan said the company was also looking to develop logistic parks in the North and the South of Thailand, including at some tourism attractions such as Phuket as well as Surat Thani, which is located at the middle of the southern region.
He said the company was also conducting a feasibility study to invest in setting up logistics parks in three major countries in the region - Myanmar, Vietnam and Indonesia - especially considering the investment regulations in those countries, such as the regulation required for foreign investors to purchase land plot, as well as market demand in each country.
Pathan said that the company last year welcomed 36 new customers who occupied 262,735 square metres of rental space in its warehouse. They included logistics service provider with 95,285 square metres of warehouse space; automobile with 85,735 square metres of space; electronics with 52,524 square metres; consumer products with 11,660 square metres, while general industries occupied 17,425 square metres of warehouse space.
The company expects to rent 320,000 square metres of more warehouse space this year, up 60 per cent over last year, due to overall economic growth and higher investment in the local industrial sector by foreign investors.