Incorporation with “Pracharat”, the national economic development and social welfare policy, to develop the new economic area, with and aim to innovatively develop this 4,800,000 Square meters (3,000 Rai) area into the commercial, investment, and community hub and the nation assembly.
On 5th April 2017, Prime Minister General Prayuth Chan-ocha presided over the signing ceremony of memorandums of understanding (MoUs) combining the development of PTT’s Wangchan Valley Rayong to the Eastern Economic Corridor of Innovation at U-Tapao Rayong-Pattaya International Airport. The MoUs which supports the development of Eastern Economic Corridor of Innovation (EECi) was also signed by Mr. Tevin Vongvanich, President & CEO, PTT Public Company Limited and Mr. Narong Sirilertworakul, President, National Science and Technology Development Agency (NSTDA).
PTT had a basic infrastructure ready on this 4.8 Square Kilometer area at Wangchan Valley, Pa Yup Nai, Wang Chan, Rayong, where the research and scientific educational institutions namely Kamnoetvidya Science Academy and Vidyasirimedhi Institute are located. The objective is to create innovative eco system. Previously, PTT constructed the main road and made preparation for essential public utilities to facilitate the area development.
PTT and NSTDA will turn the area into innovative research center, elevating production process from laboratorial level into industrial level as well as creating a complete research and product development network which includes end-to-end industries. The implementation
would be divided into 3 phases. The first phase is to jointly develop the area of 560,000 Square meters (350 Rai) with NSTDA which is divided into 3 key areas as followed.
1. Buildable Area & Test Bed, mainly developed by NSTDA and supported by PTT Group e.g. PTT Global Chemical Public Company Limited and Global Green Chemicals Public Company Limited
2. Recreation Area & Commercial Zone
3. Sustainable and Usable Green Area, where Global Power Synergy Public Company
Limited, a company in PTT Group, installs solar farm to produce energy for internal use
“Thank you for the cooperation provided by research and private and public educational institution as well as “Pracharat” which support EECi development in PTT’s Wangchan Valley and the basic infrastructure to effectively enhance the industrial competitive capability of the industry sector and the quality of life of the surrounding communities. In the future, this will become the ASEAN Innovation Hub that correlates with Thailand 4.0 policy”, Mr. Narong said.
“PTT is willing to both public and private sectors to make sure that this EECi development is successful by integrating power and work force of “Pracharat”. Regarding the second and third areas, private organizations are able to participate in the development to enhance the public quality of life with technology and innovation as well as to lead the future sustainable development of the nation.” , Mr. Tevin added.