The first such project will be developed in Maptaphut, Rayong, and involves in its first phase a state-of-the-art, 10,000-square-meter warehouse for the storage and handling of hazardous chemicals, according to the companies.
The facility will also include a chemical processing and repackaging facility. The JV said it expects the first phase of construction to be completed in May 2022.
“Today marks another milestone in the growth of the FLS Group,” said Torbjörn Larisch, group managing director for FLS. “As we further diversify our activities into logistics and warehousing, this is the first time FLS is investing into assets on such a scale.
“Ratanakorn Asset is the perfect partner for us with their long track record of investing into a wide range of projects on the eastern seaboard. We firmly believe in the growth potential of Thailand at the center of ASEAN (Association of Southeast Asian Nations) and the projected fast development of the Easter Economic Corridor.”
In a second phase, additional warehouses will be constructed, as well as a well-equipped container yard for dry cargo containers and ISO tanks to support the growing demand for specialized chemical logistics services.
The two companies also agreed in principal to further expand into the Bangkok metropolitan and eastern seaboard area to build and operate warehouses supporting the food, consumer, and automotive industries.