ASEAN KEY DESTINATIONS
3 billion baht into Thai-Chinese zone
Kiat Sittheeamorn, president of the Thailand Trade Representative (TTR) Office, said the Thai-Chinese Rayong Industrial Zone would be further developed and operated by Amata Group and Holley Group of China. It will be located in the Amata Industrial Estate.
Established in 1970, Holley Group is a multi-industry corporation under Holley Worldwide Holdings. Its core business is pharmaceuticals but the group also has presence in several industries such power metering instruments and power automation systems, wireless and wide-band telecommunication, electronic materials, real estate, agriculture, petrochemicals and mining. Holley employs a 10,000-strong workforce worldwide, with manufacturing bases and branches in the United States, France, Russia, Argentina, India, Thailand and the Philippines.
The second project is an investment by Futong Group in the Thai-Chinese Rayong Industrial Zone. The company plans to invest US$50 million to manufacture fibre-optic cables for the telecommunication industry.
The third project involves a US$40-million investment by Hebei Lizhong Wheel Group to set up a tyre factory in the industrial zone.
The fourth agreement is between Huawei Technologies of China and United Information Highway of Thailand for a national broadband expansion project.
Mr Kiat said the moves showed China was interested in using Thailand as a base for investment for exports to Asean ahead of Asean Economic Community integration in 2015.
Cumulative bilateral investments of the two countries were US$1.04 billion over the past six years.
Amata shares closed yesterday on the Stock Exchange of Thailand at 15.00 baht, down 40 satang, in total trade of 154.89 million baht.
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