The Industrial Estate Authority of Thailand (IEAT) expects to complete a study within three to four months on the construction of a new industrial estate to support the government’s proposed Land Bridge project.
Veeris Ammarapala, the governor of the IEAT, mentioned that the location of the new industrial complex has not been disclosed, but it will be designed as a sustainable and eco-friendly industrial estate.
The Land Bridge initiative includes a logistics network that connects Ranong on the Andaman Sea with Chumphon on the Gulf of Thailand, featuring deep-water ports in both locations, a motorway, and a railway system.
Local conservation groups have expressed concerns about the project, fearing it could disrupt their lifestyles and increase the risk of corruption.
Mr. Veeris also discussed plans for another industrial estate aligned with the government’s bio-, circular, and green (BCG) economic policy, although these plans are still in the preliminary stages.
The BCG policy promotes the use of technologies by manufacturers to enhance the value of their products while minimizing environmental impact.
Mr. Veeris emphasized the need for discussions between the IEAT and the government to advance the BCG industrial estate, which requires land expropriation and a defined budget.
“The two new industrial estates cover a total area of 1,295 rai,” said Mr. Veeris. “They should help to increase revenue for the authority and support the Thai economy.”
The focus of the new estates will be on key sectors such as electronics, agribusiness, food processing, and logistics and transport.
For the fiscal year 2024, the IEAT has set a goal to sell 4,500 rai of industrial land, an increase from the previous target of 3,000 rai, influenced by geopolitical tensions potentially driving more foreign investment from countries like China into Thailand and other Southeast Asian nations.
Mr. Veeris noted that if geopolitical conflicts continue, they could significantly boost foreign investment in Thailand and its neighbors.
Between October 2023 and March 2024, the authority sold 3,946 rai of industrial land, with 3,472 rai in the Eastern Economic Corridor, generating a total investment of 158 billion baht.
