Chinese Thai subsidiary moves into WHA estate

By The Nation

 

Jareeporn

 

WHA Industrial Development Plc, a subsidiary of WHA Group, announced on Friday it had signed a double agreement with Golden Egret Cement Carbide (Thailand) Co Ltd, a subsidiary of China-based and state-owned Xiamen Golden Egret Special Alloy Co Ltd (GESAC).

 

 

The agreement covers the purchase by GESAC of 56 rai and a three-year lease on a 4,700-square-metre ready-built-factory at WHA ESIE 1 where it can start production while its own plant is under construction on the purchased land.

 

GESAC’s total investment will be Bt2.5 billion over the next three or four years. 

 

Established in 1989, GESAC is one of the Xiamen Tungsten Group’s core subsidiary corporations. It specialises in the manufacture and sale of various kinds of tungsten powder, cemented carbide and cutting tools. 

 

“This double agreement is the perfect illustration of WHA Group’s ability to offer a total solution package to local and international investors,” said Jareeporn Jarukornsakul, WHA Group’s chairman and group chief executive.

 

“Our collaboration with WHA Group is a significant step in our company’s international development,” said GESAC general manager Jiang Tao. “WHA ID’s valuable expertise in industrial management and operations, great customer service and reliability, coupled with WHA ESIE 1’s excellent infrastructure with state-of-the-art utilities and power supply, were instrumental in our decision to establish our presence in Thailand. 

 

“Being at the centre of the Eastern Economic Corridor makes it the perfect location for our operations.”

 

WHA Eastern Seaboard Industrial Estate 1 (WHA ESIE 1) is located in Chonburi and Rayong provinces. 

Thirty kilometres from the Laem Chabang deep seaport and Sri Racha city, it has 8,003 rai (1,280 hectares) with easy access from Highway 3574. 

 

Opened in 2006, WHA ESIE 1 now counts over 103 customers representing 164 contracts, for a total investment topping US$6.5 billion. As one of the corridor’s industrial promotion zones, it embraces automotive manufacture, plastics and polymers, metal fabrication, electronics, building materials, agricultural and consumer products and logistics.

 

Source: https://www.nationthailand.com/property/30375266

 

-- © Copyright The Nation Thailand 2019-08-25

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4 hours ago, rooster59 said:

The agreement covers the purchase by GESAC of 56 rai and a three-year lease on a 4,700-square-metre ready-built-factory at WHA ESIE 1 where it can start production while its own plant is under construction on the purchased land.

So foreign companies can own land ?  Interesting.  Thought that was impossible. 

1 hour ago, yellowboat said:

So foreign companies can own land ?  Interesting.  Thought that was impossible. 

you beat me to it....had exactly the same question