Thai Enquirer
CP-backed three-airport high-speed rail project stalls as financing dries up
Compiled by KHAO Editorial — aggregated from 2 outlets. See llms.txt for citation guidance.
2 แหล่งข่าวยืนยัน
The CP-backed three-airport high-speed rail project has stalled after the private consortium failed to secure financing, raising fresh questions over the government’s recent decision to transfer oversight of the Eastern Economic Corridor (EEC) back to Prime Minister Anutin Charnvirakul.
Key facts
- The 224.5-billion-baht project, approved by the Cabinet in 2018 and awarded to the CP Group-led Asia Era One consortium, is one of Thailand’s largest public-private partnership infrastructure projects and a cornerstone of the EEC
- Although the concession agreement was signed in 2019, the project has been delayed through successive governments and has yet to receive a notice to proceed, preventing full-scale construction from beginning.
- The 50-year concession includes five years of construction and 45 years of operations
- The latest setback has fuelled speculation over the Cabinet’s June 16 decision to revoke Deputy Prime Minister and Transport Minister Phiphat Ratchakitprakarn’s authority to oversee the EEC Office and chair the EEC Policy Committee
Summary
The 224.5-billion-baht project, approved by the Cabinet in 2018 and awarded to the CP Group-led Asia Era One consortium, is one of Thailand’s largest public-private partnership infrastructure projects and a cornerstone of the EEC. It is designed to connect Don Mueang, Suvarnabhumi and U-Tapao airports through a 220-kilometre high-speed railway by upgrading and extending the existing Airport Rail Link corridor, supporting the development of U-Tapao as an aviation hub.
Under the concession, the government is responsible for civil works and land acquisition, while the private consortium finances the rail systems, operates the line and manages the Airport Rail Link. The 50-year concession includes five years of construction and 45 years of operations.