TPARK partners with Prospect Development to invest in new project in Bangplee, signing Scania as first client

General Press Releases Friday April 7, 2017 11:31
Bangkok--7 Apr--PRDD

TPARK joins hands with Prospect Development to invest in factory and warehouse space in the industrially strategic of Bangplee. This new industrial zone is destined to meet the needs of diverse industries including automotive, consumer products and logistics services. The joint venture has inked first deal with Scania, a major Swedish manufacturer of buses and trucks, to provide the automotive maker with the first-ever Built-to-Suit factory.

Mr. Virapan Pulges, Chief Executive Officer of TICON Industrial Connection Public Company Limited, a leading developer of integrated industrial properties in Thailand, said, "TICON Group by TICON Logistics Park Company Limited (TPARK) has teamed up with Prospect Development Company Limited (Prospect) to invest in a new property development project which is designed to address the needs of the industrial sector within Bangplee, a strategic industrial area east of Bangkok. The shareholding of the two companies is 60% and 40% respectively.

He said, "The concerted effort of TPARK and Prospect in this project has made a significant change to the industrial property development industry. Both companies share the same business model that allows them to integrate strength and expertise in their respective fields into a perfect combination and take the development of logistics park business to a higher level. TPARK specializes in logistics with business insights and professional team to develop world-class Built-to-Suit warehousing space. Prospect has a vast amount of land available for further development in Bangplee area, which is strategically ideal for the country's distribution of products from different industries such as automotive, electronics, consumer items, logistics, retail and wholesale, food and beverage, pharmaceuticals and cosmetics."

Mr. Vorasit Pokachaiyapat, Chairman of Prospect Development Company Limited, pointed out that the company realizes Bangplee area as one of the key location of industrial zone and logistics hub for the central region of Thailand. He said, "This area is as an Industrial Zone or Purple Zone, which is undoubtedly a prime location on 23rd km. Bangna-Trad highway, Bangplee, in closest proximity to Bangkok and possesses outstanding potential in terms of transportation and distribution of goods. Additionally, it is near Suvarnabhumi Airport, Bangkok Port (Khlong Toei Port) and Laem Chabang Port. The Project also granted various privileges from relevant government agencies such as taxes and skilled expatriates. Moreover, it is surrounded by a variety of industrial and commercial activities, homes to skilled workers as well as working and living facilities including affordable accommodation. With these factors, we are confident that Bangplee area can soon become a top location for Thai and foreign entrepreneurs to invest in their manufacturing and logistics operations."

"Both Prospect and TPARK believe that this business partnership will result in a dramatic growth and greater success of factories and warehouses for lease in Bangplee area as well as an increasing response from customers. Scania Group (Thailand) Company Limited has signed as our first customer for this new project."

To serve Scania, Prospect and TPARK will be responsible for the construction of a new facility for the automotive company's parts production. This 10-year lease contract includes two Built-to-Suit factories, covering a factory space around 14,000 square meters on land area of 23 rai, which are designed to meet all manufacturing requirements and standards of Scania and the two factories are expected to complete by the beginning of 2018.

According to Mr. Ted Göransson, the acting Managing Director of Scania Group (Thailand) Company Limited, a subsidiary of the major Swedish truck and bus manufacturer Scania CV, "Scania has identified Thailand as one of the key markets in Asia and has decided to expand the industrial presence in the country. For this purpose, we are very pleased to partner with TPARK and Prospect Development for the supply of two Built-to-Suit factories in the Bangplee area. We have high standards and requirements for our manufacturing facilities, for example regarding floor quality and silicone-free and clean environments, but we are fully confident that these will be satisfied by the provided solution. At the same time, the location in Bangplee is very suitable for the purpose as it is close to Scania's existing commercial operations in Thailand and provides very good connectivity, infrastructure and facilities.

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