Thailand’s cabinet on May 28 approves a draft contract worth 225 billion baht (7.07 billion USD) to build a high-speed rail connecting the country’s three major airports (Photo: www.bangkokpost.com) Bangkok (VNA) – Thailand’scabinet on May 28 approved a draft contract worth 225 billion baht (7.07 billionUSD) to build a high-speed rail connecting the country’s three major airportsof Don Mueang, Suvarnabhumi and U-Tapao.
The consortium led by Charoen Pokphan(CP) Group is expected to sign the contract, proposed by the Eastern EconomicCorridor (EEC) Office, with the State Railway of Thailand (SRT) on June 15.
Under the contract, the SRT will pay149 billion baht over a period of 10 years and the joint venture contractcovers 50 years.
After that, the project would belongto the government, which is expected to receive a return on investment of about300 billion baht, the Bangkok Post reported.
The CP Group-led consortium comprisesChina Railway Construction Corporation, Bangkok Expressway and Metro,Italian-Thai Development, Ch. Karnchang, Japan Overseas InfrastructureInvestment Corp for Transport & Urban Development, Citic Group, Siemens,Hyundai and the Japan Bank for International Cooperation.
The rail project is among five megaprojectsunder the EEC, along with the U-Tapao airport city project worth 290 billionbaht, a 10.6-billion-baht maintenance, repair andoverhaul facility, the third phase of Laem Chabang port of 114billion baht and the third phase worth 55.4 billion baht of the Map Ta Phutport.
The CP Group’s CEO Suphachai Chearavanont said thehigh-speed train project will contribute to urban development and a fairer distributionof wealth and income, adding the country will benefit from foreign investorsbringing knowledge to local workers.
Meanwhile,local people affected by the project called on the government to reveal itsdetails and allow them to give their input before the work begins.
The EEC is the Thai government's flagship investmentscheme, spanning the eastern provinces of Chon Buri, Rayong and Chachoengsao.It is due for completion by 2021 to turn those provinces into technological,manufacturing and service hubs connected to ASEAN neighbours by land, sea andair.-VNA
The consortium led by Charoen Pokphan(CP) Group is expected to sign the contract, proposed by the Eastern EconomicCorridor (EEC) Office, with the State Railway of Thailand (SRT) on June 15.
Under the contract, the SRT will pay149 billion baht over a period of 10 years and the joint venture contractcovers 50 years.
After that, the project would belongto the government, which is expected to receive a return on investment of about300 billion baht, the Bangkok Post reported.
The CP Group-led consortium comprisesChina Railway Construction Corporation, Bangkok Expressway and Metro,Italian-Thai Development, Ch. Karnchang, Japan Overseas InfrastructureInvestment Corp for Transport & Urban Development, Citic Group, Siemens,Hyundai and the Japan Bank for International Cooperation.
The rail project is among five megaprojectsunder the EEC, along with the U-Tapao airport city project worth 290 billionbaht, a 10.6-billion-baht maintenance, repair andoverhaul facility, the third phase of Laem Chabang port of 114billion baht and the third phase worth 55.4 billion baht of the Map Ta Phutport.
The CP Group’s CEO Suphachai Chearavanont said thehigh-speed train project will contribute to urban development and a fairer distributionof wealth and income, adding the country will benefit from foreign investorsbringing knowledge to local workers.
Meanwhile,local people affected by the project called on the government to reveal itsdetails and allow them to give their input before the work begins.
The EEC is the Thai government's flagship investmentscheme, spanning the eastern provinces of Chon Buri, Rayong and Chachoengsao.It is due for completion by 2021 to turn those provinces into technological,manufacturing and service hubs connected to ASEAN neighbours by land, sea andair.-VNA
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