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Amata joins Mitsubishi to build turbo-charger factory in Thailand
Thailand’s leading estate developer Amata Group, and Japan’s Mitsubishi
Heavy Industries have signed an agreement to produce turbo chargers in
Thailand to meet increasing demand for the product, both locally and
internationally.
The two companies will set up a joint venture named Mitsubishi Turbo Charger
Asia, Amata Corporation Pcl director Viboon Kromadit, and Mitsubishi Heavy
Industries director Katsuhiko Yoshida said in a recent press conference.
The Bt7 billion factory, on 92 rai of land, will be built in Thailand’s
Amata Nakhon Industrial Estate.
Mitsubishi Turbo Charger Asia will be capable of producing 2 million turbo
chargers, which will be exported to Europe and another 500,000 units aimed
at supplying Thai automobile assemblers.
Mr. Yoshida said the investment is to meet the increasing demand for turbo
chargers, 3.6 million units of which are currently produced in Japan and the
Netherlands. The new production base in Thailand will boost the manufacture
capacity into 6.9 million units a year, beginning 2011.
Mr. Viboon of the Amata Group revealed the revenue gained from selling land
to the merger totaled about Bt 300 million (US$9.5 million).
More than 10 Japanese heavy-machinery companies have expressed an interest
to invest in the industrial area, he added.
Amata is determined to sell as many as 1,700 rai (680 acres) this year,
citing the overall optimism in investment in Thailand. (TNA)
Thailand ‘disappointed’ at US priority watch list rating
Thailand is ‘disappointed’ with Washington’s decision to
retain the kingdom on its “priority watch list” (PWL) this year due to charges
of taking little action to protect US intellectual property rights (IPR), Thai
Foreign Minister Noppadon Pattama said last Sunday.
Thailand had in the past year cooperated fully with the US to protect its
intellectual property as Thai courts took about 7,000 legal cases and seized 3.4
million counterfeit articles, Mr. Noppadon said.
His remarks were made after the US last Friday placed Thailand and eight other
countries, including China and Russia, on the list, a move which will subject
them to extra scrutiny and could eventually lead to economic sanctions if the
Bush administration decides to pursue complaints before the Geneva-based World
Trade Organization.
Thailand will, however, continue to work with the United States in protecting
the latter’s IPR and the National Police Bureau will be asked for its
cooperation to push for related laws amendment to make them more efficient, said
Mr. Noppadon. (TNA)
Lao’s Phongsavanh Bank to
open first branch in Thailand
A privately owned commercial bank from Laos is set to open
its first representative office in Thailand at the end of this year.
In Bangkok last Friday for preparatory meetings was Dethphouvan Moularat,
Assistant to the Bank of Laos governor, and Phongsavanh Bank chairman Od
phongsavanh who met Bank of Thailand (BoT) Governor Tarisa Watanagase to discuss
the criteria and conditions for Phongsavanh Bank to open its first branch office
in the kingdom.
After the meeting the Phongsavanh Bank representatives said that the bank wanted
to enter Thailand to facilitate Lao workers employed in the country and tourists
from both countries on banking related transactions, including payments,
deposits, money transfers and money changing into both Lao kip and Thai baht
currencies.
At the initial stage, he said, the bank planned to open its first office in
Bangkok by this year and would later set up branches in the Thai provinces
bordering Laos.
He added that the branches would help facilitate Thai and Lao business people as
bilateral trade volume had increased during the first three to four years after
Thai-Lao Friendship bridge was opened.
Phongsavanh Bank started operations in March 2007 and provides a full retail and
commercial banking service to its client base. It now has branches in Vientiane
and Savannakhet and plans to open three more branches this year at Champasak,
Luangphabang, and Bokeo. (TNA)
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