BTSC, KT discussing THB30-billion debt, expect to resolve problem in 2 weeks
The Bangkok Mass Transit System (BTSC) and Krungthep Thanakom (KT) are looking for ways to solve the 30-billion-baht debt problem related to the extension of the BTS Green Line and expect to come to an agreement within two weeks.
Surapong Laoha-Unya, chief executive officer of BTSC, said the two sides had not reached any agreements during negotiations on Monday.
“During the discussion, we proposed ways of cutting down operating expenses and boosting KT’s revenue, such as reducing the number of trips outside rush hour and collecting fare from commuters using the BTS Green Line extension,” he said.
He added that the Bangkok Metropolitan Administration (BMA) had proposed three options for solving the debt problem: Seeking funds from the government, setting up a joint investment under the 2019 Public-Private Partnership Act, or shifting the debt back to the Mass Rapid Transit Authority (MRTA).
BTSC is planning to sue both KT and BMA over the 30 billion baht it is owed for the extension of the BTS Green Line if there is no conclusion on the issue.
Of the 30 billion baht, 10 billion is owed for the operation of the BTS system and the remainder for the installation of the train line's electrical and mechanical systems.