TPARK, Prospect Development join in factory project in Bang Phli
Ticon Logistics Park Co (TPARK) and Prospect Development are jointly investing in factory and warehouse space in the industrially strategic district of of Bang Phli in Samut Prakan province.
This new industrial zone is destined to meet the needs of diverse industries including automotive, consumer products and logistics services.
The joint venture has inked its first deal with Scania, a major Swedish manufacturer of buses and trucks, to provide it with a built-to-suit factory, said Virapan Pulges, chief executive officer of Ticon Industrial Connection.
He said TPARK had teamed up with Prospect Development to invest in a new property-development project designed to address the needs of the industrial sector in Bang Phli, a strategic industrial area east of Bangkok. TPARK holds 60 per cent of the JV and Prospect 40 per cent.
Virapan said the concerted effort of TPARK and Prospect in this project had made a significant change to the industrial-property development industry. The two companies share the same business model that allows them to integrate strengths and expertise in their respective fields into a perfect combination and take the development of logistics parks to a higher level, he said.
TPARK says it specialises in logistics with business insights and a professional team to develop world-class built-to-suit warehousing space. Prospect, meanwhile, has a vast amount of land available for further development in Bang Phli, which is seen as strategically ideal for the country’s distribution of products from different industries such as automotive, electronics, consumer items, logistics, retail and wholesale, food and beverage, pharmaceuticals and cosmetics.
“Both Prospect and TPARK believe that this business partnership will result in dramatic growth and greater success of factories and warehouses for lease in the Bang Phli area as well as an increasing response from customers. Scania Group (Thailand) Company Ltd has signed on as our first customer for this new project,” Virapan said.
Prospect and TPARK will be responsible for the construction of a new facility for Scania’s parts production. This 10-year lease contract includes two built-to-suit factories, covering a factory space of around 14,000 square metres on 23 rai (nearly 3.7 hectares) of land, which are designed to meet all manufacturing requirements and standards of Scania. The two factories are expected to be complete by the beginning of 2018.
Ted Goransson, the acting managing director of Scania Thailand, a subsidiary of the major Swedish truck and bus manufacturer Scania CV, said: “Scania has identified Thailand as one of the key markets in Asia and has decided to expand the industrial presence in the country. For this purpose, we are very pleased to partner with TPARK and Prospect Development for the supply of two built-to-suit factories in the Bang Phli area.”