A partnership between Thai and Japanese companies plans to invest nearly 3 billion baht to build an industrial estate in Ubon Ratchathani, focusing on agriculture processing and biotechnology.
Natawatana Lerdsurawitaya, managing director of Ubon Industry Co, announced a partnership with Kaigai Advisory Co, Wellness Life Project Thailand Co and Asian Dynamic Communication Co.
The companies recently signed a memorandum of understanding to establish the Ubon Ratchathani Industrial Estate, which is expected to begin construction by 2020 and conclude in 2022.
The estate is touted as a regional distribution centre connecting with Cambodia, Laos and Vietnam. The estate will also manufacture machinery for agriculture and other industries.
Mr Natawatana said the establishment of the industrial estate is a product of collaboration among the four partners, aiming to serve as a model of how industry-led sustainable development derives from foreign direct investment, enhances the local economy, provides employment and creates valuable socio-economic transformation in the region.
He said the project targets generating an economic impact of more than 20 billion baht and providing 20,000 jobs by 2022.