Sumary of THG readies hemp venture:
- SET-listed Thonburi Healthcare Group (THG) is planning to venture into Hemp Smart City development as part of its wellness and medical tourism project in the resort district of Cha-am in Phetchaburi.
- Believing Thailand will become a hemp hub in Asia, the company has set up a subsidiary, Thonburi Cannabis Plc (THC), to oversee a hemp business, said THG chairman Boon Vanasin.
- It believes the hemp industry has a high potential to grow due to growing demand for hemp products in both the domestic and overseas markets.
- Its Hemp Smart City, which will offer hemp-related products and services, will be developed on an area covering 2,000-3,000 rai under an investment of around 10 billion baht.
- Suwadee Phanpanich, corporate secretary of THC, said she expects the new company to see a revenue growth of 10-15% a year from sales of a range of hemp-derived products.
- “THC aims to sell hemp products to customers in the business-to-business [B2B] and business-to-customer segments,” she said.