Govt advances four major EEC projects

 

   

BANGKOK, 24 April 2019(NNT) - The government is advancing four infrastructure projects in the Eastern Economic Corridor (EEC). All projects will be able to be included in the joint venture signing in May. They will promote Thailand as an important trade hub in Asia.

 

Prime Minister Gen. Prayut Chan-o-cha chaired the meeting of the EEC Policy Committee. The meeting reported on progress of four major projects, including a high-speed rail linking three airports. After the appraisal of the proposal in late January, Charoen Pokphand Holdings or CPH submitted a proposal for investment and returns which has been approved by the committee. The State Railway of Thailand (SRT) will prepare a draft joint venture agreement for the Office of the Attorney General and the EEC Office before submitting it to the cabinet. It is expected that the joint venture agreement will be signed in May.

 

The U-Tapao Airport and Eastern Aviation City Development Project is currently in the process of evaluating the proposals of the three bidders, consisting of BBS Joint Venture Group, Grand Consortium Group and Thana Holding Company Limited. The winning bidder is expected to be announced in May.

 

For the Map Ta Phut Industrial Port Development Project, Phase 3, a joint venture group of Gulf and PTT Tank submitted a proposal in mid-February. Negotiations with the private sector are expected to be completed this week. Meanwhile, the GPC Joint Venture Group and the NCP Joint Venture Group submitted a proposal for the Laem Chabang Port Development Project, Phase 3, Port F. Their proposals are being reviewed. The process is expected to be completed by May.

 

The government expects that the four projects will generate a cash flow for the country and will be able to develop links in transport as well as make Thailand an even more important trade hub of the Asian region.

 

-- © Copyright nnt 2019-04-24

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10 minutes ago, humbug said:

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Obviously they are eager to get all large projects signed before the next government is formed. Well, just in case they could not manage to be the government again.

Yawn! These projects have been talked about for years and they are only now just getting around to signing an agreement as to who can bid. The chairman of every committee in Thailand from the EEC to the Ladies Knitting Club makes it all sound like the EEC is all his big idea.

And the useless State Railway of Thailand is in the thick of it. Although being a State owned rail operator they are effectively bankrupt with 100 billion baht in debt plus another 18 billion to Hopewell.

State Railway hasn't got two satong to rub together and any project bid win for them has the makings of a monumental financial disaster with an ultimate bail out by the government; not unlike Thai Airways. 

Where will they get skilled workers?

Where will they get investments when the global economy is shrinking heading into uncertainty. You can have all the infrastructure but if no investors; will be another Hopewell stonehenge. 

Come little piggies, it's feeding time, snouts to trough!

And all under the 20 yr plan so is untouchable under National Security.

2 hours ago, Eric Loh said:

Where will they get investments when the global economy is shrinking heading into uncertainty. You can have all the infrastructure but if no investors; will be another Hopewell stonehenge. 

Thus far I'd say about 90% of investment in the EEC is currently coming from Japan with some interest from France and Germany. However, Japan's economic outlook for 2019 reflects continued economic slowdown but 2020 may bring a temporary resurgent economy in connection with the Olympics in Japan.

For the long term I'd say Japan has a lot of financial risk in the EEC, especially if the political situation in Thailand continues to be disruptive. Albeit, I don't think Japan will be disturbed by loss of democracy in Thailand any more than it would with some of the other ASEAN countries.

3 hours ago, Redline said:

Where will they get skilled workers?

The last numbers I read was there are some 20,000 Chinese skilled workers now in Thailand.   They also get streamlined visas for their families.  

 

https://news.cgtn.com/news/3d3d414d3367544f33457a6333566d54/index.html

23 hours ago, CaptainJack said:

The last numbers I read was there are some 20,000 Chinese skilled workers now in Thailand.   They also get streamlined visas for their families.  

 

https://news.cgtn.com/news/3d3d414d3367544f33457a6333566d54/index.html

More power to them

On 4/24/2019 at 5:35 PM, Redline said:

Where will they get skilled workers?

Did I read something about the government urging the upskilling of workers, that should do it. 

1 hour ago, Oziex1 said:

Did I read something about the government urging the upskilling of workers, that should do it. 

Try try again, they say