SONGKHLA – The Industrial Estate Authority of Thailand (IEAT) has signed an agreement to lease a 629-rai plot belonging to the Treasury Department to set up an industrial estate.
IEAT Governor Verapong Chaiperm signed the agreement with Director-General of the Treasury Department Patchara Anuntasilpa to lease land located in Sadao district of Songkhla province. It will be the first plot where the industrial estate will be set up as part of the province’s special economic zone.
The rent will be 50 years long and cost the IEAT 17 million baht a year. The rental fee will increase by 15% every five year. The development plan for the industrial estate is now being evaluated by the Office of National Environment Board for environmental impact.
The basic infrastructure of the one-billion-baht project will be completed in 2019. It will attract investments worth more than 13 billion baht, create 3,000 local jobs and increase border trade in the southern border.