The Industrial Estate Authority of Thailand (IEAT) expects to open Smart Park to serve S-curve industries in the Eastern Economic Corridor (EEC) in 2024 after hiring a company to supervise the construction of its new 12-billion-baht industrial estate.
Smart Park, located on 1,383 rai in Rayong, is expected to help drive the development of high-tech industries, including robotics, medical equipment, aviation and aerospace.
"Smart Park is located in a prime location, so it has potential to attract investors to invest in the industrial estate," said Veeris Ammarapala, governor of the IEAT.
Rayong, Chon Buri and Chachoengsao provinces form the EEC zone spanning 30,000 rai on the east coast, which is Thailand's key industrial area.
Five Japanese companies showed interest in investing in renewable energy businesses at Smart Park, the IEAT announced after an online meeting with Japan's Ministry of Economy, Trade and Industry in May this year.
Mr Veeris said after the meeting Thailand and Japan plan to study ways to promote renewable energy business at Smart Park.
The governor yesterday signed a contract with a firm named Therdthai and Co which was hired to oversee the construction work of four other constructors. It is expected to take 36 months to finish the construction of Smart Park.
Under the construction plan, IEAT plans to allocate 621 rai of land for factories, 150 rai for commercial areas, 373 rai for infrastructure and facilities, and 238 rai for green areas and buffer zones.
The project is only seven kilometres from Map Ta Phut deep-sea port, 29km from Sattahip commercial port, 17km from U-tapao airport, 53km from Laem Chabang deep-sea port and 150km from Suvarnabhumi airport.
Industry Minister Suriya Jungrungreangkit said earlier Smart Park should help boost the economy, contributing 53 billion baht to GDP and creating 7,459 jobs.
The state plans to make Smart Park the first high-tech industrial estate in Thailand to serve modern industries.
The EEC hosts 12 targeted S-curve industries: cars; smart electronics; affluent, medical and wellness tourism; agriculture and biotechnology; food; robotics for industry; logistics and aviation; biofuels and biochemicals; digital; medical services; defence; and education development.