304 Industrial Park in Prachin Buri has welcomed the relocation of 10 factories so far this year, following the disastrous floods that severely hit the Central region of Thailand and caused severe supply-chain disruptions.
According to Charnvit Jarusombathi, senior executive vice president of Double A (1991) Plc which develops the industrial park, the moving trend is expected to continue at an increasing rate. Double A also announced on Feb 27 that it would invest Bt6 billion in the third paper mill in the industrial park.
Among the 10 investors, which are mostly Japanese investment, was Canon Prachinburi (Thailand) Co Ltd. Those in the machinery and metal industry were Nicco Machine Co Ltd, Northland Co Ltd, Sanwa Metal Co Ltd, Sato Perss Kogyo Co Ltd and Thai Kyowa GMB Co Ltd. The estate also welcomed Taga Co Ltd and Y-Tec Co Ltd which involved in the automotive industry; as well as Winsome Green Co Ltd, a Malaysia-based food maker.
Charnvit noted that their combined investment of at least Bt11.6 billion should create 10,400 jobs.
“This current situation has shown that global investors still have confidence in Thailand, believing that Thai business sector will be moving forward in the future,” he said.
The industrial park now advertises itself as a safe zone from floods, located 20 metre above sea level.
Meanwhile, confidence in economic growth this year also encouraged Double A to invest in the third paper mill, to sustain demand for high quality paper. The mill will commence operations by the last quarter of 2012. This investment will add the company’s production capacity to 820,000 tonnes per year from 599,000 tonnes, supporting its exports to over 100 countries.
“Double A has decided to invest in capacity expansion to ably sustain the consumption of Double A paper worldwide especially in our newly explored markets in Eastern Europe and Africa. Furthermore, Double A believes that the previous year’s flood crisis will not affect Thai and foreign investor’s decision to grow in Thailand for the reason that our country has many potentials and is ready to support investors”, said Charnvit.