News Feed

Economy May 17, 2018 01:00

By The Nation


State Railway of Thailand (SRT) plans to open the bidding this month for a Bt220 billion high-speed train project connecting three airports after the approval of legislation for the development of the Eastern Economic Corridor (EEC).

Acting SRT governor Anon Luangboriboon said the committee has been accelerating its study on the details of the legislation for guidance on the drafting of the bidding conditions for the project.

The 220-kilometre route will connect the Don Mueang, Suvarnabhumi and U-Tapao international airports.

“So far, about 90 per cent of ToR (terms of reference) have been completed. There’s only the EEC bill detail left regarding opening the bidding for the private sector to invest,” Anon said. “Both foreign and Thai private enterprises, including those from Japan, China and Europe, are interested in this project. We’re confident that the bid will be able to start this month.”

Among the Thai enterprises that have expressed interest in bidding are BTS Group Holdings Plc, PTT Plc and Ch Karnchang Plc.

The high-speed rail project will be financed under a net-cost public-private partnership (PPP) model. Under this model, the government will grant concessions to private enterprises for a contract period of 50 years.

The expected economic internal rate of return (EIRR) is Bt700 billion, with Bt400 billion for the first 50 years and Bt300 billion for the following 50 years.

Transport Deputy Minister Pailin Chuchottaworn said that after the EEC law comes into effect, infrastructure projects in the EEC may move forward faster.

After this, the EEC committee will likely invite foreign investors for direction on investment in the EEC areas, while the Ministry of Transport will speed up bids for the projects starting with the preparation of the terms of reference.


Thoresen Thai Agencies (TTA) has posted net profit of Bt8.2 million for the first quarter of the year. It said results in the year’s opening quarter are generally lower due to the cyclical nature of the business.

For the quarter, consolidated revenue was Bt3.11 billion, in line with the result in the same period last year. The company’s shipping operations contributed 42 per cent.