PWO plans community mall on riverfront plot

Pol Maj-General Kriboon Suadsong, chairman of the PWO, said yesterday that the organisation would soon propose this plan for the Cabinet’s approval after Commerce Minister Apiradi Tantraporn visits the site on July 14.
This land is known as the “Thon Buri Warehouse”.
The project is part of the PWO’s strategy to rely on its own revenue after facing losses for managing agricultural stockpiles under the previous elected government’s pledging project for too long, Kriboon said.
The PWO would like to manage its assets more efficiently to earn more income and to rely on its own operation rather than wait for the government’s intervention projects.
“The land development will aim to create sustainable income for the organisation in the future. The Thon Buri land has old warehouses that can be renovated and constructed as a community mall like the Asiatique the Riverfront project,” he said.
The PWO will ask the Cabinet to approve bidding under the Private Investment in a State Undertaking Act of 2013, which allows for joint investment of the PWO with interested parties from the private sector.
The development plan is set to be completed by next year.
The PWO will also develop 5.97 rai of land in Saraburi, 30 rai in Nakhon Ratchasima and 18.25 rai in Khon Kaen.
The Korat property will become a distribution centre for agricultural products to help farmers under the Pracha Rath (State of the People) scheme.
The Khon Kaen property will become a warehouse for supporting growth in border trade under Asean integration.
Last year, the PWO reported revenue of Bt2.1 billion with net profit of Bt560 million. Most of its revenue came from wharf services, warehouse and cold-storage facility rental, and management fees from government projects.