The Thai Cabinet is set to review the draft agreement between the preferred bidder (PB) and the State Railway of Thailand for the Bangkok-Rayong High-Speed Railway (HSR) project on May 28. 

Thai conglomerate Charoen Pokphand Group (CP) and 12 other companies were awarded as PB to develop the US$6.8 billion high-speed train project that will link three major airports in the country. The planned project has received the clearance from the Attorney General’s office before the cabinet sets to scrutinize the draft agreement. 

The project will connect Thailand’s main international airport Suvarnabhumi to low-cost carrier airport Don Muang and U-Tapao airport in eastern Thailand. It is expected to be operational after five years of construction and will have a useful life of 45 years under the partnership. 

The HSR is part of the investment pushed under the Eastern Economic Corridor Policy (EEC). The EEC project, worth US$45 billion, is the centerpiece of the Thai Government’s policy to boost investments in hi-tech industrials, as it transitions from those reliant on cheap labor. Its goal is to make the east a center for hi-tech industries such as robotics and electric vehicles as well as a regional hub for aircraft maintenance.

The Charoen Pokphand Group (CP) forged consortium and strategic partnership with China’s CITIC Group Corp, China Railway Construction, South Korea’s Hyundai, Germany’s Siemens, Italian-Thai Development Pcl and Japan Bank for International Cooperation.