A study on the construction of a new industrial estate to support the government's proposed Land Bridge project is expected to be completed in 3-4 months, says the Industrial Estate Authority of Thailand (IEAT).
Veeris Ammarapala, governor of the IEAT, did not elaborate on where the industrial complex will be built, saying only it will be developed into a "sustainable and eco-friendly industrial estate".
The Land Bridge development comprises a logistics network connecting Ranong on the Andaman Sea to Chumphon on the Gulf of Thailand. The project would have deep-water ports in both provinces, a motorway cutting across the land to connect the two provinces, and a railway system.
However, the project has drawn opposition from local conservation groups concerned over the unpleasant impact on their way of life as well as risk of corruption in the project.
Mr Veeris said authorities plan to build another industrial estate under the state's bio-, circular and green (BCG) economic policy, but this plan has not yet formed.
The BCG policy encourages manufacturers to adopt technologies that can add value to their products with minimum impact on the environment.
A talk between the IEAT and the government is needed to push forward the BCG industrial estate as the project requires land expropriation and a clear budget, he said.
"The two new industrial estates have total areas spanning 1,295 rai of land," said Mr Veeris.
"They should help to increase revenue for the authority and support the Thai economy."
The new estates are expected to serve key industries, including electronics, agribusiness, food processing and logistics and transport, he said.
For fiscal 2024, the IEAT set an industrial land sales target of 4,500 rai, up from 3,000 rai, as the impact of geopolitical conflicts could cause foreign investors, especially those from China, to invest in Thailand or Southeast Asia.
"If conflicts between countries are prolonged, this could be a factor helping to drive up foreign investment in Thailand and neighbouring countries," said Mr Veeris.
From October 2023 to March 2024, the authority's industrial land sales totalled 3,946 rai, with 3,472 rai in the Eastern Economic Corridor.
Total investment was 158 billion baht.
