The Siam Cement Public Company Limited (SCC) has reached an agreement in principle to sell a 25% stake in Industrial Estate operations to Hemaraj Public Company Limited (Hemaraj). As a result, Hemaraj will become a 25% partner in SIL Industrial Land (SIL), a subsidiary company to manage an approximate 7,000 rai (2,800 acres) in industrial estate, with properties in the provinces of Saraburi and Rayong. Hemaraj, with its expertise in industrial estate management and marketing, will be responsible for managing the day-to-day operations of SIL. Hemaraj?s investment in a 25% stake in SIL (pending shareholders? approval on April 29/05) is valued at 250 MB and will be paid in cash and/or Hemaraj shares at market value. On the balance sheet, SIL will have assets and liabilities worth 1,700 MB and 700 MB, respectively. This transaction is a continuation of SCC?s efforts to reduce its involvement in the non-core businesses. SCC?s industrial estate operation currently occupies properties in the provinces of Rayong and Saraburi about 3,500 rai (1,400 acre) each. Hemaraj is Thailand?s leading industrial estate and infrastructure developer, with principal operations located on the Eastern Seaboard. Other services include facilities management, infrastructure development, SME factories for lease and sale, and other industrial services. With the inclusion of SIL into its operations portfolio, Hemaraj?s over 200 clients in industries ranging from automotive, chemical, steel, building materials, electronics, and consumer products will have increased access for further expansion and strategic location options.