must consist of both a Thai and a foreign company, with the local firm being at least 60% Thai-owned and contributing a minimum of 30% of the JV’s registered capital
If the Thai end owns 60% then they (the Thais) should be on the hook for a minimum of 60% of the capital
Here is the BBC take on it : https://www.bbc.com/news/articles/crkmdd4vevxo
The most telling part is :
...unaccountable power is wielded by palace officials, senior judges, business tycoons, and military and police officers
scrutinised the progress of an ambitious project aimed at linking the airport with a high-speed rail network that will connect three major airports
Well that didn't take long - nothing has been done !!