ROJNA Extends the Gain as Investors Speculate Business Cooperation with EVLOMO-OR

The share price of ROJNA continued to edge higher on Tuesday after hitting the ceiling at the open of yesterday’s trading session in response to the MOU signing with the U.S. leading EV company EVLOMO to carry out a battery production project. Earlier, the same company also joined OR to install EV charging stations.

 

As of 11:12 local time in Thailand, April 27, 2021, Rojana Industrial Park Public Company Limited (ROJNA) rose ฿1.05/share or 15.79% to ฿7.70/share with a trading value of 840 million baht.

 

EVLOMO, a leading electric vehicle company from the United States, and ROJNA have signed an MOU to agree to a joint venture to carry out a battery production project to store electric energy (Battery Cell production) with a production size of 8 GWh or 8,000 MW, which is the largest level in ASEAN. Compared with the capacity of 150,000 EV vehicles, an investment of up to US $ 1.06 billion or approximately 33,000 million baht, the project is located at the Rojana Industrial Estate, Nong Yai District, Chonburi Province. It is an area of the Eastern Special Development Zone (EEC).

 

In 2021, there will be an initial investment of 1 GWh or 1,000 MW immediately with the construction of the plant expected to be completed and produce the first battery within 18-24 months to create quality work not less than 3,000 high-income jobs, along with many other linked positions, benefiting citizens and driving the nation’s economy as a whole.

Last week, PTT Oil and Retail Business Public Company Limited (OR) also signed a Joint Collaboration Agreement with EVLOMO Technologies Co., Ltd. to bring public ultra-fast electric vehicle (EV) chargers at OR’s location across Eastern Economic Corridor, Thailand.