USD 7.4 billion high-speed rail project signed in Thailand
PPP agreement to develop the High-Speed Rail Linking Three Airports (Don Mueang-Suvarnabhumi-U-Tapao) Project has been signed on 24 of October between State Railway of Thailand (SRT) and Eastern High-Speed Rail Linking Three Airports Co., Ltd. (Charoen Pokphand Holding and strategic alliances).
The High-speed Rail Linking Three Airports Project connects three important airports in Thailand - Don Mueang Airport, Suvarnabhumi Airport and U-Tapao Airport. The project covers a total distance of 220 kilometers. The train can reach a maximum speed of 250 kilometers per hour. The journey from Bangkok to U-Tapao airport will take 45 minutes, compared to 2-3 hours by car.
The PPP contract term will be 50 years, including five years of construction and 45 years of operation and maintenance. The completion of the project is scheduled for 2023.
This is the first time the Royal Thai Government developed the high-speed rail project under the public-private partnership program with PPP Net Cost of THB 224,54 million (USD 742 million). The country will get optimal interests from the concession agreement with the budget approved by the Cabinet of BHT 119,43 million (USD 395 million). As a result, the private sector proposed a budget of THB 117,23 million (USD 387 million). This helped to save the expense of up to TBH 2,200 million (USD 72 million) under the 50-year PPP agreement. Furthermore, all assets will be state ownership at the end of the agreement.
CP Group collaborated with joint venture partners, namely China Railway Construction Corp. Ltd. from the People's Republic of China, Bangkok Expressway and Metro Plc., Italian-Thai Development PCL, and CH Karnchang PCL to establish the "Eastern High-Speed Rail Linking Three Airports Co., Ltd.” as an agent to sign the PPP agreement. After signing this agreement, he will accelerate the management of Eastern High-Speed Rail Linking Three Airports Co., Ltd. to conduct field exploration and design, negotiate with contractors and suppliers, as well as speed up the construction plan and project implementation immediately.
Country news
-
-
October 08, 2019
Contract signed for USD 1.7 billion port PPP in Thailand
The Industrial Estate Authority of Thailand (IEAT) on 1 of October has signed a public-private partnership (PPP) contract with the winner of the tender - Gulf MTP LNG Terminal, for the development of the Map Ta Phut seaport project which is worth THB 55.4 billion (USD 1.69 billion).
Read more -
May 09, 2019
Winning bidder for the airport PPP in Thailand to be announced in May
The winning bidder for the U-Tapao Airport and Eastern Aviation City Development PPP project in Rayong Province is expected to be announced in May. The estimated investment for the project is THB 200 billion (US$6,25 billion).
Read more -
May 07, 2019
Port concession in Thailand to be signed in June
The Industrial Estate Authority of Thailand (IEAT) is speeding the bidding process and set to award the concession agreement with the winning bidder for the Map Ta Phut LNG Port Expansion project in Thailand’s Eastern Economic Corridor development plan by June 4.
Read more -
April 29, 2019
The winning bidder for the Airport in Thailand to be announced in May
The Board of Directors of the Eastern Economic Corridor (EEC) has revealed that three consortiums submitted the proposal to be the developer of U-Tapao airport and the Eastern Airport City Project worth more than THB 200 billion (US$ 6.3 billion).
Read more -
April 26, 2019
Concession agreement for High-speed rail PPP project in Thailand to be signed in May
The signing of the concession agreement for the THB 225 billion (US $6.8 billion) High-Speed Rail Project linking three major airports is expected to take place before the end of May.
The State Railway of Thailand (SRT) will prepare a draft agreement for the Office of the Attorney General. The final negotiations with the bid winner will be held before May 15 and the plan will be forwarded for cabinet approval before May 28, 2019.
Read more
