Bangkok Post
High-speed link hangs on contract rejig
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The future of the 224.5-billion-baht high-speed rail project linking Don Mueang, Suvarnabhumi and U-Tapao airports now hinges on whether the government approves amendments to its concession agreement, with the State Railway of Thailand (SRT) warning the contract could otherwise be terminated.
Key facts
- The future of the 224.5-billion-baht high-speed rail project linking Don Mueang, Suvarnabhumi and U-Tapao airports now hinges on whether the government approves amendments to its concession agreement, with the State Railway of Thailand
- SRT governor Anan Phonimdaeng said the SRT, the Eastern Economic Corridor Office (EECO) and Asia Era One Co, the consortium led by CP Group that won the concession, met last week, during which the private partner said it would be unable to
- Mr Anan said lenders have lost confidence in the project's commercial viability following the Covid-19 pandemic and subsequent economic downturn, which significantly reduced passenger forecasts
- He said two options will be submitted to the EEC Policy Committee within the next two months
Summary
SRT governor Anan Phonimdaeng said the SRT, the Eastern Economic Corridor Office (EECO) and Asia Era One Co, the consortium led by CP Group that won the concession, met last week, during which the private partner said it would be unable to continue with the public-private partnership (PPP) project unless the contract is revised.
He said two options will be submitted to the EEC Policy Committee within the next two months. The first is to proceed with contract amendments previously approved in principle by the EEC board before forwarding the revised agreement, which has already been vetted by the Office of the Attorney General, to the cabinet for final approval.