Chinese tyre maker Prinx Chengshan is acquiring land plots in Thailand worth an estimated US$25 million for its new plant. The transaction involves purchase of 2,250 acres of land in Tambon Nong Suea Chang, Amphur Nong Yai and Tambon Klong-Kew, Amphur Ban-Bung, Chonburi province by affiliate Prinx Thailand from WHA Eastern, Thailand’s industrial real estate developer. Prinx Thailand has also signed a water services agreement with a WHA Eastern subsidiary. Reportedly, the company chose Thailand as its new plant site to benefit from the low costs for raw materials and transportation, as well as the country’s favourable policies.
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