August 30, 2017 / 12:59 PM / 10 months ago

Thai industrial estate developer Amata steps up land sales

BANGKOK, Aug 30 (Reuters) - Thailand’s top industrial estate developer Amata Pcl said it aims to sell 1,000 rai (160 hectares) of land this year, up from sales of 638 rai in 2016.

Sales would be driven by the government’s $43 billion Eastern Economic Corridor (EEC) programme to spur investment along Thailand’s eastern coast via tax breaks, visa exemptions and reductions in red tape.

“Amata’s projects are all located in the EEC provinces,” Chief Marketing Officer Viboon Kromadit told investors in Bangkok.

Amata’s land sales include ready-built factories and other developed facilities.

It said it would also supply power and water to industrial estates on the east coast and had allocated 1 billion baht ($30 million) to build three power plants with B. Grimm Power Pcl next year, he said.

Amata’s Vietnamese unit, Amata VN, said its land sales in the first half of 2017 had already exceeded its annual target of 20 hectares. It said it now expected to sell a total of 24 hectares this year and forecast its total annual revenue would rise 28 percent from last year. ($1 = 33.2100 baht) (Reporting by Chayut Setboonsarng; Editing by Susan Fenton)

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