Dec. 2--Katoen Natie (Thailand), the local unit of the Belgian logistics provider Katoen Natie, is expanding its chemical logistics centre at Mab Ta Phut Industrial Estate in Rayong to accommodate the growing petrochemical industry.
Fabrice Goetschmann, the company's executive director, said it was building the second logistics centre with total space of 80,000 square metres in Rayong. The 10,000 sq m first phase is already open.
The company's first logistics centre, covering 50,000 sq m, is located in the same industrial estate.
"We will invest the total of 1.3 billion baht to complete the second logistics centre by 2009-10. After that, we will have up to 130,000 sq m," he said yesterday.Mr Goetschmann said the company was responding to the growth of the petrochemical industry through new investments by PTT and Siam Cement.
Katoen Natie (Thailand) yesterday signed a five-year contract with Wyncoast Logistics, which will provide rail services between Mab Ta Phut and Laem Chabang Port in Chon Buri. Wyncoast will handle 40,000 containers per year for Katoen Natie, representing 60 percent of its annual capacity of 70,000 containers.
Koen Cardon, managing director of Katoen Natie Asia, said that at present no chemical products were moved by rail in Thailand, even though rail is safer, 10-15 percent cheaper and more environmentally friendly than truck transport.
"We should look at the railway mode even though Thailand is making massive investments in road infrastructure. In Europe, roads are prioritised for people traffic while cargo is being pushed toward transport over rail or barges," he said.
Once the company's expansion at Mab Ta Put is completed, production volumes will rise to 3,000 containers per day over the next 10 years, compared to 200 containers a day currently.
Noppong Uratjananon, business venture director of Wyncoast Industrial Park Plc, the parent of Wyncoast Logistics, said 75 percent of its revenue would come from the logistics business next year.
This year, its revenue will miss the target of 80-100 million baht as one big customer returned a large plot of land in the free zone of Wyncoast Industrial Park in Bang Pakong. It has a total of 39,000 sq m of space, of which 8,000 sq m is occupied.
Wyncoast, taken over in 2004 by the Wongsawasdi family and restructured as an industrial-park operator, was formerly known as Capetronic International, a producer of electronic parts and TV monitors.
The company reported a nine-month loss of 18.14 million baht on revenues of 56.3 million. Third-quarter losses totalled 15.34 million baht, compared with a profit of 1.15 million in the same period last year. The declines were attributed to higher rental and service costs, higher sales and administrative expenses and a 9.29- million-baht charge for doubtful debt.
Shares of Wyncoast (WIN) closed yesterday on the Stock Exchange of Thailand at 1.56 baht, up three satang, in trade worth 50.58 million baht.
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Source: Bangkok Post
