BANGKOK, 24 April 2019(NNT) – The Thai government is advancing four infrastructure projects in the Eastern Economic Corridor (EEC).
All projects will be able to be included in the joint venture signing in May. They will promote Thailand as an important trade hub in Asia.
The meeting reported on progress of four major projects, including a high-speed rail linking three airports.
The High-speed rail linking three airports
After the appraisal of the proposal in late January, Charoen Pokphand Holdings or CPH submitted a proposal for investment and returns which has been approved by the committee.
The State Railway of Thailand (SRT) will prepare a draft joint venture agreement for the Office of the Attorney General and the EEC Office before submitting it to the cabinet. It is expected that the joint venture agreement will be signed in May.
The U-Tapao Airport and Eastern Aviation City Development Project
The U-Tapao Airport and Eastern Aviation City Development Project is currently in the process of evaluating the proposals of the three bidders, consisting of BBS Joint Venture Group, Grand Consortium Group and Thana Holding Company Limited. The winning bidder is expected to be announced in May.
The Map Ta Phut Industrial Port Development Project
For the Map Ta Phut Industrial Port Development Project, Phase 3, a joint venture group of Gulf and PTT Tank submitted a proposal in mid-February. Negotiations with the private sector are expected to be completed this week.
Meanwhile, the GPC Joint Venture Group and the NCP Joint Venture Group submitted a proposal for the Laem Chabang Port Development Project, Phase 3, Port F.
Their proposals are being reviewed. The process is expected to be completed by May.
The government expects that the four projects will generate a cash flow for the country and will be able to develop links in transport as well as make Thailand an even more important trade hub of the Asian region.
Large Shopping Malls in Bangkok Will Be Closed until July 25th
Shopping malls under the Mall Group, including all branches of The Mall, the Emporium, Emquartier and Paragon Department Store, are also closed for 14 days, from today, except for supermarkets, food courts, pharmacy shops, eateries (take-out and delivery only), banks, mobile phone shops and vaccination sites.
Downside risks loom for Thai economy due to Prolonged COVID-19 Outbreak
The most important issue for the Thai economy at present would be the procurement and distribution of appropriate vaccines adequately and timely.
The Bank of Thailand (BoT) has revealed that Thailand’s economy faces significant downside risks, because a prolonged COVID-19 outbreak could cause the economy to underperform the baseline projection, squeezing business liquidity and slowing employment.(more…)
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