Bangkok--17 May--Francom Asia
The soon-to-be-established venture, with a registered capital of THB 650 million, will be jointly managed and will acquire 2,152-rai industrial land in Rayong province and develop an Industrial Estate to be operated by WHA Industrial Development
WHA Industrial Development PLC (WHA ID) (formerly known as "Hemaraj Land And Development PLC) a member of WHA Group, Thailand's leader in fully-integrated logistics and industrial facilities solutions, announced today the signing of a Shareholders Agreement with IRPC PCL for the development of a "WHA Industrial Estate Rayong" in Ban Kai district, Rayong province.
WHA ID will hold 60% of the newly-established Joint Venture, to be named WHA Industrial Estate Rayong Co., Ltd., with the remaining 40% held by IRPC. To be set up by early 3Q2018, with a registered capital of THB 650 million, the JV company will acquire a 2,152-rai land from IRPC. Strategically located 20 kilometers from Rayong City, 36 kilometers from Map Ta Phut Port and 50 kilometers from the U-Tapao airport, the industrial estate will be called "WHA Industrial Estate Rayong".
As part of the government-sponsored Eastern Economic Corridor (EEC) initiative, the new industrial estate will also 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, it 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 CSR policies.
"WHA ID has established this joint venture company with IRPC to develop this landmark project in Thailand," said Ms. Jareeporn Jarukornsakul, WHA Chairman and Group Chief Executive Officer. "This new industrial estate is in the good location at Ban Khai, Rayong, in the EEC, 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," commented Mr. Sukrit Surabotsopon, President of IRPC. "We are confident that our combined vision together with WHA's expertise and experience will enable to develop WHA Industrial Estate Rayong to attract investors from industries of the future and cater to the needs of local communities. " he declared.
Mr. David Nardone, Group Executive Industrial and International, WHA Industrial Development, said: "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 world-class industrial estate that will create new demand for a skilled workforce and help boost the country's growth," he commented.
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).
About WHA Group
WHA Corporation PCL (WHA Group) is Thailand's leader in fully-integrated logistics and industrial facilities solutions. WHA's operations consist of 4 business areas in logistics, Industrial Development, Utilities & Power and Digital Platform with an integrated service offering that enables it to provide customers with turn-key solutions:
- Logistics – Customers can avail of built-to-suit factories, logistics facilities and distribution centers at all times. This innovative concept was pioneered in the market since 2003 by WHA Corporation Pcl., with more than 2.2 million sq.m. in leasable area under owned and managed assets at 19 strategic locations nationwide to date.
- Industrial Development – As a world-class industrial estate developer, WHA ID offers strong and efficient infrastructure, utilities, industrial clusters and industrial services. WHA ID has 9+ operating industrial estates covering over 46,000 rai (7,400 hectares) with over 720 global customers, 1,088 land or factory contracts and $30.5 billion investment in Rayong, Chonburi and Saraburi, and mostly located in the Eastern Economic Corridor (EEC).
- Utilities and Power – As the sole supplier of water and other utilities infrastructures, WHA Utilities and Power Plc. offers total security to industrial estate customers while enjoying strong partnerships with leading power operators. It supplies approximately 113 mm m3 of water per year and 510.5 operational equity MW.
- Digital Platform – In order to support its customers in their business intelligence operations, WHA Infonite Co.,Ltd. actively provides comprehensive data solutions and platforms to leading multi-national and Thai companies
Website: www.wha-group.com www.wha-industrialestate.com
About IRPC
Equipped with a refinery and petrochemical complexes located in its own Rayong industrial zone, IRPC is an integrated petrochemical pioneer in Southeast Asia. The zone fully contains infrastructure and basic utilities supporting industries, including a deep-sea terminal, oil tank farm, and a power plant. Below is a business description of IRPC: petroleum, petrochemical, and
supporting businesses.
- Petroleum Business - IRPC's oil refining unit commands a total capacity of 215,000 bpd. The refinery (the third largest in Thailand) yields LPG, naphtha, gasoline, and diesel. Its Lube Base Oil Group 1 plant (with the largest domestic capacity) boasts a total capacity of 320 KTA, whereas an associated asphalt plant's total capacity is 600 KTA.
- Petrochemical Business - IRPC's upstream products consist of olefins (1,221 KTA capacity) and aromatics (367 KTA capacity), both serving as downstream feedstock. Sold under the POLIMAXX brand to domestic and international plastic manufacturers, polyolefins consist of HDPE, PP, and polyol (940 KTA capacity); and styrenics (ABS, SAN, EPS, and PS) (334 KTA capacity).
- Supporting Businesses
- Power and public utilities - IRPC provides electricity, steam, and basic public utility services along with other public utility systems, including sale and lease of land for industrial purposes, and other land.
- Port and tank services - These services consist of ports or terminals for transfer of domestic and international cargoes. This is a deep-sea area of the Eastern Region at Amphoe Muang, Rayong, featuring infrastructure, facilities, and international-standard dock services. Available services include liquid tankfarms for petroleum products and petrochemicals along with modern management systems that are both efficient and safe. Tankfarm facilities located in different regions, namely Rayong Oil Depot, Phra Pradaeng Oil Depot, Ayutthaya Oil Depot, and Chumphon Oil Depot accommodate customers' needs, which supplement the competitiveness of the industrial markets in Thailand.
- Asset management business - IRPC manages high-potential land in Rayong and other provinces with a total acreage of some 12,000 rai to develop such land into EIZ (Eco-Industrial Zone) projects, including land for industries and high potential land supporting industrial economic sector expansion that accommodates the Eastern Economic Corridor Development Project (EEC)-an investment promotion policy under public policy.
Website: www.irpc.co.th