Charn Uswachoke, chief executive of Nascomm Network, said the joint venture with Changjiang Computer Group would invest more than Bt10 billion within a couple years. He declined to reveal what stake each company held in the joint venture.

"In the first step, the joint venture will set up an IT factory to produce IT products, telecom and smart-card technology products. It will provide hardware, software, system-integrators and services to customers, including voice and data communications, trunk radios and broadband equipment to create comprehensive communications networks between diverse organisations. It will start to deliver new products to market by the end of this year," he said.

Charn, a veteran investor in the IT sector through the now-defunct Alphatec empire, said that the joint venture would provide for technology transfer between Changjiang and Nascomm and enhanced investment to develop new technology and new products.

"The firm expects that the joint venture will be involved in an IT factory as well as a power plant," he said.

Jiao Zichun, president of Changjiang Computer Group, said that the firm had decided to form a long-term investment with the Thai company because Thailand had high potential. The firm plans to sell end-to-end smart systems, radio-frequency identification (RFID) and intelligent transportation systems.

Changjiang last year posted revenue of Bt175 billion. The firm is among the top 100 software companies in China.

"Our focus has always been on developing the IT sector in the region. We believe that the hi-tech sector here holds great promise, as is evident through our partnership with Nascomm," Jiao said.

Charn said he would not let the failure of Alphatec and its Submicron project, which he oversaw the failure of, affect the new operation.

"I would not go so far as to say that I will do not anything wrong, but I have learned many lessons in business. I will be more careful," said Charn.

Charn said he expected to rebuild Submicron, a key part of Alphatec, next year, but that would require Bt66.3 billion in new investment. While Changjiang could be a partner, he said, he would approach companies from China, Germany and the US.

"Through this partnership we will expand our expertise to prepare for the technologies of the future," said Charn, adding that the companies had signed two agreements to set up a power-factory project in Chachoengsao and a real-estate project somewhere in the country.

Jirapan Boonnoon

The Nation