Q-Con’s land acquisition set to boost southern Thailand’s economy
The Industrial Estate Authority of Thailand (IEAT) anticipates its recent land sale to Quality Construction Products Plc (Q-Con), a lightweight brick manufacturer, to bolster the increasing demand for bricks and endorse the government’s economic upliftment plan for the southern region.
Situated in the Southern Region Industrial Estate, the 35-rai land was acquired by Q-Con, which had committed to a purchase agreement on Monday, March 18. The firm has invested approximately 1.05 billion baht in its lightweight brick production initiative.
The acquisition of the land is anticipated to foster job creation and facilitate other investment ventures that require construction materials, thereby boosting the southern region’s economy, stated Veeris Ammarapala, the IEAT’s governor.
“The relationship between Q-Con and the IEAT is strong. The company is a key customer who has bought industrial land in various locations across different regions.”
The government’s plan focuses on enhancing the southern region’s economy by buttressing its agricultural trade and tourism sectors.
Prime Minister Srettha Thavisin had previously remarked that the southernmost provinces, particularly the Betong district of Yala, possess the potential to morph into leading tourist hotspots, supplementing Phuket.
The Southern Region Industrial Estate, which neighbours Yala in Songkhla, covers a total area of 2,261 rai. It includes an industrial zone (917 rai), a commercial and residential zone (37 rai), an infrastructure and green zone (1,194 rai) and a free zone (113 rai) which serves multiple purposes, including functioning as a customs-free area.
The estate houses 48 companies and employs 2,811 workers, with the total investment value summing up to 5.98 billion baht.
Rubber processing comprises 37% of all industries in the industrial estate, succeeded by food (11%), plastics (11%), steel and metal (11%), and other industries (30%), Veeris added.
“Thai investors make up the majority, accounting for 56% of total investors, followed by Malaysians (21%), Japanese (4%) and investors of other nationalities (19%).”
To encourage industrial land sales in the Southern Region Industrial Estate, the IEAT is offering a 3% discount to new investors and a 5% price cut to existing investors looking to purchase additional land.
