Amata Corporation has entered into a concession agreement with the Government of Laos to develop another project in the country, named the Amata Smart and Eco City Namor, located in Oudomxay province.
This announcement comes just months after the developer celebrated the groundbreaking of its first project in Laos, the Amata Smart and Eco City Natuey in Luang Namtha province, in the north of the country.
The new ‘city’ in Namor, once completed, will cover an area of 3,150 ha. The first phase will be developed on 1,292 ha, with the support of Thai and foreign partners, said Amata. The construction of this modern, eco industrial park in the northwest of Laos is scheduled to begin in 2022.
According to Amata, the company started to cooperate and work with the Government of Laos in 2018 to develop the Amata Smart and Eco City Namor, following the concept of Amata Smart and Eco City Natuey, for which a concession agreement was signed in January this year.
Amata’s goal is to invest and develop around 200 sq km of land in total in Laos. The investments are made through its fully owned subsidiary, Amata City Laos Company Limited, with an initial investment of US$500 million.
Vikrom Kromadit, chairman and CEO of Amata Corporation PCL, has also affirmed the company’s commitment to achieve the goal of developing the country’s most modern and safest industrial cities.
“All of Amata’s projects are developed within a sustainability framework and with the business philosophy of ‘All Win’, aiming to jointly succeed and share benefits to all parties and sectors and environment, striving for an inclusive, sustainable growth,” he said.
“To publicise the new projects in Laos, Amata plans to invite various global companies and organisations from government sectors, such as Yokohama Industrial City or Japan External Trade Organization (JETRO), to participate in the projects and to jointly promote them among potential investor groups.
“We want to collaborate with professional partners from various countries, in particular from Laos, Thailand, China, Japan and Singapore, to develop the various elements of Amata’s smart and eco cities and to boost investment and trade between Thailand and Laos.”