WHA Industrial Development (WHA ID), which was formerly known as Hemaraj Land and Development and is a member of WHA Group, today announced today the signing of a shareholders agreement with IRPC for the development of the WHA Industrial Estate Rayong in Rayong’s Ban Kai district.
WHA ID will hold 60 per cent of the newly established joint venture, to be named WHA Industrial Estate Rayong, with the remaining 40 per cent held by IRPC. The joint venture, which will be finalised by the third quarter of 2018 and have a registered capital of Bt650 million, will acquire 2,152 rai of land from IRPC. Located 20 kilometres from Rayong City, 36km from Map Ta Phut Port and 50km from U-Tapao airport, the industrial estate will be called WHA Industrial Estate Rayong.
Part of the government-sponsored Eastern Economic Corridor (EEC) initiative, the new industrial estate will target investors in the so-called 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, it will benefit from the company’s 30-year expertise and high standards in terms of engineering design, planning and environmental protection. WHA ID will be responsible for marketing and securing both Thai and international investors and tenants as well as implementing best practices in terms of environmental protection, water and waste management, community relations and CSR policies.
“WHA ID has established this joint venture with IRPC to develop this landmark project in Thailand,” said Jareeporn Jarukornsakul, WHA chairman and Group chief executive. “The new industrial estate is in an excellent location at Ban Khai in the EEC and WHA ID will apply the highest standards for the benefit of all stakeholders, including our customers, employees and the surrounding communities,” she added.
“This joint venture with WHA ID is based on building the synergy between two companies,” confirmed IRPC’s president Sukrit Surabotsopon. “We are confident that our combined vision together with WHA’s expertise and experience will enable us to attract investors from industries of the future and cater to the needs of local communities.”
David Nardone, group executive industrial and international of WHA Industrial Development, added: “We are looking forward to developing the new industrial estate that will be well-equipped to accommodate the EEC’s 10 S-Curve industries. We will deliver a state-of-the art, customer-focused industrial estate of the highest standard that will create new demand for a skilled workforce and help boost the country’s growth.”
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 (7.760 hectares).