WHA Industrial Development Plc (WHA ID), a logistics and industrial facilities provider and a member of WHA Group, has signed a shareholders agreement with IRPC Plc for the development of WHA Industrial Estate Rayong in the eastern province.
WHA ID, formerly known as Hemaraj Land and Development Plc, will hold 60 per cent of the new joint venture, to be named WHA Industrial Estate Rayong Co Ltd, with the remainder held by IRPC.
It will be set up in third quarter of this year with registered capital of Bt650 million. The joint-venture company will acquire from IRPC a 2,152-rai site in Ban Kai district for the industrial estate.
The site is 20 kilometres from Rayong City, 36 kilometres from Map Ta Phut Port and 50 kilometres from U-Tapao airport.
As part of the government-sponsored Eastern Economic Corridor (EEC) initiative, the industrial estate will target investors in the 10 S-curve industries - such as next-generation automotive, robotics, aviation and logistics, as well as mechanical assembly, food processing and other supporting industries.
Under the management of WHA ID, the company said the estate will benefit from the company’s 30-year expertise and high standards in terms of engineering design, planning and environment protection.
WHA ID will be responsible for marketing and securing both Thai and international investors and tenants as well as implementing its best practices in terms of environment protection, water and waste management, community relations and corporate social responsibility policies.
Jareeporn Jarukornsakul, WHA chairman and group chief executive officer said the new industrial estate would enjoy a good location at Ban Khai district within the EEC.
“WHA ID will apply the highest standards for the project the benefit of all stakeholders, including our customers, employees and the surrounding communities,” Jareeporn said.
Sukrit Surabotsopon, president of IRPC, yesterday said: “This joint venture with WHA ID is based on building the synergies between the two companies.”
David Nardone, group executive industrial and international at WHA Industrial Development, said the company is looking forward to developing the new industrial estate that will be well-equipped to accommodate the EEC’s 10 S-curve industries.
“The company will deliver a state-of-the art, customer-focused world-class industrial estate that will create new demand for a skilled workforce and help boost the country’s growth,” Nardone said.
“With the establishment of WHA Industrial Estate Rayong, WHA ID confirms its leading position as the largest industrial estate developer in Thailand, with a combined area of over 48,500 rai.”