Mitsubishi Electric wins huge elevator deal for One Bangkok complex

© Kyodo News

Mitsubishi Electric Corp. has received its biggest ever elevator and escalator order in Thailand with a deal to supply the One Bangkok complex, touted as the nation's largest private-sector property initiative.

Mitsubishi Electric said Monday its subsidiary, Mitsubishi Elevator (Thailand) Co., clinched a deal with One Bangkok Co., a joint venture between TCC Assets (Thailand) Co. and Frasers Property Holdings (Thailand) Co., two firms under Thai conglomerate TCC Group.

Mitsubishi will deliver 250 elevators, including 12 double-deck elevators, the first of their kind in Thailand, and 28 escalators, starting in October, the Tokyo-based firm said.

Mitsubishi Electric described the order as its biggest in Thailand since the start of its elevator business in the Southeast Asian country in 1977, but declined to release the amount.

The 16.7-hectare, 120 billion baht ($3.9 billion) One Bangkok project features office buildings, hotels, residential towers, retail precincts and art and culture facilities.

According to Mitsubishi Electric, its elevator arm is the industry leader in Thailand with a share of about 30 percent. (NNA/Kyodo)