The Industrial Estate Authority of Thailand (IEAT) has joined hands with Hermes Co-op to develop the 70th industrial estate, 'Hermes Industrial Estate' in Chonburi, confident that it will attract 35 billion baht in investment. The Industrial Estate Authority of Thailand (IEAT) signed a joint operation agreement with Hermes Cooperation Co., Ltd. to establish the 'Hermes Industrial Estate' on an area of ??over 1,231 rai in Chonburi Province to support the industries driving the economy for the future (New Engine of Growth) in the parts manufacturing industry and electric vehicles, confident that it will attract over 35 billion baht in investment and create over 8,800 jobs. Mr. Veerit Amrapal, Governor of the Industrial Estate Authority of Thailand (IEAT), revealed that Hermes Industrial Estate will be the 70th industrial estate under the supervision of the IEAT. The establishment of Hermes Industrial Estate plays an important role in driving the Thailand 4.0 policy, helping to enhance the competitiveness of the industrial sector based on modern technology and innovation, with a focus on developing the modern electric vehicle industry cluster. Thailand has the highest sales of electric vehicles in ASEAN countries (January 2022-April 2023) and has doubled from the previous year. Of this number, a large proportion of electric vehicles are manufactured in China. Therefore, this is a good opportunity for this industrial estate to become an electric vehicle production base from upstream to downstream in Thailand. 'With the potential of Hermes Cooperation Co., Ltd., we believe that this industrial estate will be well-received by investors, helping to strengthen the country's economy, especially the industrial sector, which can support investment in the target industries of modern electric vehicles, electrical appliances, electrical appliance parts, and other related industries very well,' said Mr. Wirit. As for investment trends in the industrial estate area, even though the second half of the year will face challeng es, land sales/rentals continue to grow from the first half of the year. We are confident that in 2024, land sales will definitely exceed the target of 4,500 rai, but will increase to the same level as last year at 6,000 rai. This is a challenge because there are only 3 months left. Most of them are investors from China. Soon, some areas will be converted into Smart cities, Smart parks, expected to be completed by the end of this year to support the Data Center group. However, during this period, the world is adjusting its investment base to support new technologies, causing factories in Thailand to gradually close in the past 1-2 years. The industries that require labor to stay in Thailand are increasingly difficult to do so. At present, Thailand is promoting electric vehicles (EVs) a lot, while combustion engine vehicles are starting to close down or move their bases. Therefore, I would like the government to have a policy to help combustion engine manufacturers to develop and adjust to produce PHEVs or pl ug-in hybrid electric vehicles instead. I don't want them to be abandoned. It may reduce taxes to maintain Thailand's status as an automotive hub and help the original 300,000-400,000 automotive parts manufacturers, which Japan agrees with. Mr. Somchai Thaisongwanvorakul, Chairman of Hermes Cooperative Co., Ltd., said that currently, foreign investors from China, the United States, and Europe are interested in buying land in Hermes Industrial Estate. Target customers include the modern electric vehicle industry, electrical appliances, electrical appliance parts, and other related industries, including data centers and cloud services, which are industries that are in line with the policies of the Eastern Economic Corridor (EEC). Since the Data Center business needs to use green energy 24 hours a day, the company plans to invest in hydrogen energy technology with partners to produce green electricity to supply the Data Center industry. Although investing in hydrogen energy requires a lot of investment, being able to produce electricity 24 hours a day compared to solar energy, which produces electricity for only 5 hours a day, is considered worthwhile investment. The Hermes Industrial Estate project is located in Khao Mai Kaew Subdistrict, Bang Lamung District, Chonburi Province, covering an area of ??approximately 1,231 rai. It is a joint-operation industrial estate format, in which the private sector invests, develops, and provides utility services under the supervision of the IEAT. In the IEAT Board Meeting No. 5/2567 on April 27, 2567, a resolution was approved in principle to establish the Hermes Industrial Estate project under an investment in infrastructure and utility development of approximately 2,880 million baht. It is believed that this industrial estate will attract enormous investment, create economic value of more than 35,320 million baht, and create approximately 8,830 jobs. It is expected that interested parties will be able to reserve next year, and it is expected that the land sale will be clos ed within 2 years, and it will be able to open for operation in 2569. -517-Thai News Agency Source: Thai News Agency