Connect with us

China

Thai cabinet approves high-speed rail linking three airports

Thailand’s cabinet on May 28 approved a contract worth 225 billion baht (7.07 billion USD) to build a high-speed rail connecting the country’s three major airports

Published

on

Bangkok (VNA) – Thailand’s cabinet on May 28 approved a draft contract worth 225 billion baht (7.07 billion USD) to build a high-speed rail connecting the country’s three major airports of Don Mueang, Suvarnabhumi and U-Tapao.

Leading Thai conglomerate Charoen Pokphand Group is entering the railway business with help from China Railway Construction, starting with a planned high-speed link connecting three airports in the Bangkok area.

The consortium led by Charoen Pokphan (CP) Group is expected to sign the contract, proposed by the Eastern Economic Corridor (EEC) Office, with the State Railway of Thailand (SRT) on June 15.

Under the contract, the SRT will pay 149 billion baht over a period of 10 years and the joint venture contract covers 50 years.

After that, the project would belong to the government, which is expected to receive a return on investment of about 300 billion baht, the Bangkok Post reported.

(Photo: www.bangkokpost.com)

The CP Group-led consortium comprises China Railway Construction Corporation, Bangkok Expressway and Metro, Italian-Thai Development, Ch. Karnchang, Japan Overseas Infrastructure Investment Corp for Transport & Urban Development, Citic Group, Siemens, Hyundai and the Japan Bank for International Cooperation.

The rail project is among five megaprojects under the EEC, along with the U-Tapao airport city project worth 290 billion baht, a 10.6-billion-baht maintenance, repair and overhaul facility, the third phase of Laem Chabang port of 114 billion baht and the third phase worth 55.4 billion baht of the Map Ta Phut port.

thaichinarailway

The CP Group’s CEO Suphachai Chearavanont said the high-speed train project will contribute to urban development and a fairer distribution
of wealth and income, adding the country will benefit from foreign investors bringing knowledge to local workers.

Meanwhile, local people affected by the project called on the government to reveal its details and allow them to give their input before the work begins. 

The EEC is the Thai government’s flagship investment scheme, spanning the eastern provinces of Chon Buri, Rayong and Chachoengsao.

Source link

Click to comment

Leave a Reply

Asean

China Sustains Huge Ecommerce Development Investment Flows into ASEAN

What Asia Investment Research showed us that there were China outbound investments into several ASEAN markets, led by Singapore, and followed by Indonesia, Malaysia, Thailand, and the Philippines. Collectively, these markets saw circa 30 investments n Q3, or about 15 percent of total Chinese outbound volume. 

Published

on

China-Sustains-Huge-Ecommerce-Development-Investment-Flows-Into-ASEAN

ASEAN Inbound Investments from China show strong trends in developing digital trade infrastructure.

(more…)
Continue Reading

Tourism

Chinese travellers name Thailand their ‘Recommended Travel Destination of the Year’

Thailand was the only outbound tourist destination receiving the award at the presentation ceremony in Shanghai. China is among the 63 approved countries and territories from where travellers can visit Thailand under quarantine-free entry requirements introduced on 1 November, 2021.

Published

on

chinese tourist yaowarat

Thailand has won the ‘Recommended Travel Destination of the Year’ award at the 2021 City Travel Hotel Awards organised by the Chinese magazine City Travel.

(more…)
Continue Reading

Recent

Most Read

Join 14,204 other subscribers