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Suchatchavee Suwansawas, director and spokesman of the SRT, said yesterday  the authority was ready to open  bidding for the signalling system and rolling-stock contracts for the Bang Sue-Rangsit section in the same way as for the Bang Sue-Taling Chan section of the route.

The Bang Sue-Taling Chan section has already entered into the contract stage for civil engineering works.

"The reduced construction budget for the Red Line's Bang Sue-Rangsit section will be proposed for the Cabinet's consideration this month," Suchatchavee said.

He said that although the civil-engineering budget was to be reduced to Bt44 billion, the project cost would be Bt69.39 billion in total when taking into account the signalling system, rolling stock, compensation as well as tax.

The Bang Sue-Rangsit section will be funded totally by a loan from the Japan International Cooperation Agency of Bt89.69 billion, which built in Bt20 billion to take account of oil price volatility and fluctuations in construction prices.

Suchatchavee said that once the Cabinet gave the final go-ahead for the project, the bidding documents would be put on sale.

He added that the SRT would seek approval for the budget for the signalling system and rolling stock for both Red Line sections at the same time.

The investment for signalling and rolling stock, including value-added tax, for the Bang Sue-Taling Chan section is about Bt6.15 billion.