The State Railway of Thailand (SRT) board has approved a 579,135 million baht investment framework for fiscal year 2027, advancing three major rail projects including double-track lines, Red Line extensions and the Thai–Chinese high-speed railway Phase 2. The decision was made at a board meeting on 18 February 2026. The proposal will be submitted to the Ministry of Transport before further consideration by the National Economic and Social Development Council and the Cabinet.
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Anan Photinimdaeng, SRT Deputy Governor and Acting Governor, said the FY2027 operating budget estimates revenue of 12,764 million baht and expenditure of 47,759 million baht, resulting in an operating loss of 34,995 million baht. The fiscal year runs from 1 October 2026 to 30 September 2027. The investment plan has been adjusted in line with government policy priorities.
The first key component covers Phase 2 double-track railway construction across six routes spanning 1,249 kilometres, with a total investment of approximately 297,924 million baht. The projects aim to shift freight transport from road to rail, reduce travel times by 30% by eliminating train passing delays, improve punctuality and lower logistics costs while reducing accidents.
The second component includes three extensions of Bangkok’s suburban Red Line system. These are the Rangsit–Thammasat University (Rangsit Campus) section with a budget of 6,474 million baht; the Siriraj–Taling Chan–Salaya route and three additional stations (Rama VI Bridge, Bang Kruai–EGAT and Ban Chim Phli) costing 15,176 million baht and the Missing Link between Bang Sue–Phaya Thai–Makkasan–Hua Mak plus the Bang Sue–Hua Lamphong section, with a combined budget of 44,574 million baht.
The third major project is Phase 2 of the Thai–Chinese high-speed railway from Nakhon Ratchasima to Nong Khai, covering 357.12 kilometres with an investment framework of 341,351 million baht.
Regarding the high-speed rail project linking Don Mueang, Suvarnabhumi and U-Tapao airports, valued at over 224,544 million baht, the state is expected to contribute around 120,000 million baht in civil works subsidies. Although funds were allocated in the FY2026 budget, payments have not commenced as the project has yet to start. If contractual amendments with Asia Era One Co., Ltd., of the CP Group are completed in July 2026 and the notice to proceed is issued, disbursement could begin in FY2027, with approximately 14,000 million baht in the first year using carried-over FY2026 funds.
Manager online reported that the board also approved a revision to the FY2026 investment budget, increasing total implementation funding from 368,886 million baht by 144,966 million baht to 513,852 million baht. The FY2026 disbursement ceiling rises from 35,244 million baht by 14,416 million baht to 49,660 million baht, pending further review by the Ministry of Transport and the national planning agency.
Picture courtesy of MGR
Key Takeaways
• SRT approved a 579,135 million baht investment plan for FY2027.
• Three priority projects include Phase 2 double-track rail, Red Line extensions and the Thai–Chinese high-speed railway Phase 2.
• FY2026 investment funding was revised upward to 513,853 million baht following increased disbursement capacity.
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Adapted by ASEAN Now MGRonline 23 Feb 2026