WHA Industrial Development and IRPC Sign Shareholders Agreement to Develop "WHA Industrial Estate Rayong" in EEC
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
Shown in photo:
1.Ms.Jareeporn Jarukornsakul (center right), Chairman and Group CEO, WHA Corporation PCL (WHA Group)
2.Mr. David Nardone (2nd right), Group Executive Industrial and International, WHA Industrial Development PLC.
3.Mr.Vivat Jiratikarnsakul (far right), Chief Operating Officer Industrial and International, WHA Industrial Development PLC.
4.Mr. Sukrit Surabotsopon (center left), President of IRPC PCL
5.Mrs. Rachadaporn Rajchataewindra (2nd left), Senior Executive Vice President, Corporate Accounting & Finance, IRPC PCL.
6.Mr. Somkiat Lertritpuwadol (far left), Senior Executive Vice President, Corporate Commercial and Marketing, IRPC PCL.
Bangkok, 17 May 2018 – 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).