INDUSTRY
Nava Nakorn expanding in Northeast
NAKHON RATCHASIMA : Nava Nakorn Industrial Estate Nakhon Ratchasima will invest 300 million baht to develop the second phase of its infrastructure as it prepares for new investors shifting from the central region.
Surasee Hangsrisuwan, a vice-president of Nava Nakorn Plc and the estate's director, said 10 companies have signed contracts to have production facilities at the project, which would require at least 6 billion baht in investment.
The company has allocated 640 rai for the second-phase development in addition to the 755-rai first phase in Sung Noen district.
The whole estate will comprise 1,903 rai. A third phase is under review.
The 10 new clients were investors from Thailand and countries such as Japan, India and Singapore who earlier considered several locations before choosing the estate. Two have already begun construction.
Seven factories are now operating in the first phase with more than 10 billion baht invested. Investment in Nava Nakorn Nakhon Ratchasima increased by 80% year-on-year in 2011, and another 80% rise is expected next year.
Mr Surasee said a key factor attracting investors to the northeastern province is the geographical advantage of the plateau, instilling confidence that the project will not flood.
Chutima Phumsrisawat, director of the Regional Investment and Economic Center 2 in Nakhon Ratchasima, said investment in the province rose by 20% in terms of the number of approved projects this year.
In value terms, investment is down by 68% from 46.7 billion baht last year, as the province promoted more small and medium-sized businesses.
Ms Chutima said investment in the province will be less active the first quarter, as the floods have diverted attention.
Bangkok Post
