Mr. Pisit Serewiwattana, President of Export-Import Bank of Thailand (EXIM Thailand), reveals that EXIM Thailand recently signed a USD 3.45 million loan agreement with Mr. Charvanin Bunditkitsada, Chief Executive Officer of JWD InfoLogistics Public Company Limited (JWD) and Miss Orawan Voranij, JWD Director, to finance JWD's chilled and frozen food warehousing facilities in Cambodia and Lao PDR at EXIM Thailand's Head Office on June 20, 2016.
The loan provided by EXIM Thailand will allow JWD to fully make its market presence by expanding its logistics business into the ASEAN Economic Community (AEC) following its listing on the Stock Exchange of Thailand in 2015 after operating integrated ground logistics services for over 36 years. JWD has entered into a joint venture with RMA Group, a leader in food and automobile businesses in Cambodia and Lao PDR, to establish EM Logistics and Warehousing Private Limited with an aim to engage in warehouse business investment in Cambodia and Lao PDR. The USD 3.45-million loan will be utilized for warehouse construction, with USD 2.60 million for a project in Cambodia and the remainder USD 0.85 million for a facility in Lao PDR.
With EXIM Thailand's financial support, a warehouse project in Viantiane, Lao PDR has been accomplished and commenced commercial operation in January 2016. Its services consist of depository and management of imported, temperature-controlled chilled and frozen goods which need to be kept in low temperature before distributing to restaurants or food retailers for domestic consumption such as pre-processed fresh food, fruits, fruit juice, fresh vegetable, ice cream, and cheese. Meanwhile, a similar project in Phnom Penh, Cambodia is under construction and expected to be completed by this August, targeting franchised restaurants with numerous branches scattering all over the country.
"EXIM Thailand aims to help promote logistics business expansion in the CLMV, which will serve as a foundation for Thailand's logistics network development with neighboring countries and other countries in the region, increasing foreign exchange earnings while enhancing social well-being and overall economic growth in the AEC and beyond," said Mr. Pisit.