Nation Thailand
Five conditions for terminating high-speed train contract as EECO to decide CP’s fate on July 15
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2 แหล่งข่าวยืนยัน
The high-speed rail project linking three airports — Don Mueang, Suvarnabhumi and U-Tapao — began its bidding process in 2018. The CP Group won the bid after seeking 117.226 billion baht in state co-investment, and the State Railway of Thailand (SRT) signed the contract with Asia Era One Co Ltd, in which CP Group is the major shareholder, on October 24, 2019.
Key facts
- The Covid-19 pandemic later affected the project, prompting CP Group to seek relief measures
- The Eastern Economic Corridor Office (EECO) has scheduled a meeting of the joint investment contract management committee on July 15, 2026, to consider possible solutions to be proposed to the Eastern Economic Corridor Policy Committee
- The bidding process in 2018 has already ended
- Since the joint investment contract was signed in late 2019, the project has faced challenges from several factors, including Covid-19, global economic volatility, geopolitical conflicts, changes in investment costs and market conditions
- Thailand and France Sign New 2026-2028 Action Plan, Setting Sights on Strategic Partnership
Summary
The Covid-19 pandemic later affected the project, prompting CP Group to seek relief measures. The Cabinet approved contract amendments to address the impact on October 19, 2021, before CP Group took over the management of the Airport Rail Link. However, negotiations on the contract amendments have dragged on and remain unresolved.
The Eastern Economic Corridor Office (EECO) has scheduled a meeting of the joint investment contract management committee on July 15, 2026, to consider possible solutions to be proposed to the Eastern Economic Corridor Policy Committee (EEC Policy Committee), chaired by Prime Minister Anutin Charnvirakul.