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Thursday, July 18, 2024

Amata City Lao Receives THB 150 Million Loan to Develop Smart City in Northern Laos

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Amata City Lao Company, a subsidiary of the Thai Real Estate company AMATA Group in Laos, secured THB 150 million (about USD 4.2 million) in financial support from the Export-Import Bank of Thailand (EXIM Thailand) to develop the Amata Smart and Eco City Natuey Industrial Estate in Luang Namtha province.

The agreement for the financing of the project was signed on 3 August and the loan amount will be used to purchase land and develop the industrial estate in the Amata Smart and Eco City Natuey Industrial Estate, which is a smart and eco-friendly industrial estate committed to a zero waste policy.

The estate is designed as a low-carbon city that preserves natural resources and the environment, and aligns with AMATA Group’s “All Win” philosophy, which emphasizes sustainability and shared value creation, Bangkokbiz News reported.

Amata City Lao’s commitment to sustainable development is evident in its track record of developing sustainable industrial estates, which has earned it financial support from EXIM Thailand Bank.

Dr. Rak Vorrakitpokatorn, the president of EXIM Thailand, said that the bank has been working to support Thai entrepreneurial ventures like Amata City Lao by helping them integrate both Thai and Lao small and medium-sized enterprises (SMEs) into their supply chains. This will help to create an ecosystem that can support the development of future industries.

Until now, Amata City Lao has developed two industrial estates in Laos, including Amata Smart and Eco City Natuey Industrial Estate in Luang Namtha province and Amata Smart and Eco City Na Mor Industrial Estate in Oudomxay province, which is located along the Laos-China Railway.

Last year, the Stock Exchange of Thailand-listed Amata Corporation announced it would allocate USD 1 billion to Amata Smart and Eco City Natuey Industrial Estate, and was also planning to spend USD 500 million for its first-phase development in Namor Industrial Estate, according to Bangkok Post.

Vikrom Kromadit, chairman and chief executive of Amata, said that the two industrial estates in Natuey and Namor would be models for modern industrial parks. They would have energy-efficient infrastructure and sustainable environmental management.

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