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Thailand's richest man, 12 others to build $6.8 billion high-speed rail


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Thailand's richest man, 12 others to build $6.8 billion high-speed rail

 

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BANGKOK (Reuters) - Thai conglomerate Charoen Pokphand Group (CP) and 12 other companies were selected to build a $6.8 billion high-speed train project that will link three major airports in the country, the government said on Monday.

 

The committee, chaired by Thai Prime Minister Prayuth Chan-ocha, chose a joint investor for the public-private partnership that required the lowest amount of investment from the government, the Eastern Economic Corridor Policy (EEC) office said in a statement.

 

The government’s decision came in following months of negotiations after CP and 12 other companies jointly submitted a bid for the $6.8 billion project last year.

 

The rail link will connect Thailand’s main international airport Suvarnabhumi to low-cost carrier airport Don Muang and U-Tapao airport in eastern Thailand.

 

The proposal will be sent for cabinet approval on May 28, EEC Secretary-General Kanit Sangsubhan told reporters.

 

The high-speed train project is slated to be completed in five years, and will be operational for 45 years under the partnership, according to the EEC portal.

 

The EEC project, worth $45 billion, is the centerpiece of the government’s policy to boost investments in hi-tech industrials, as it transitions from those reliant on cheap labor.

 

The goal is to make the east a center for hi-tech industries such as robotics and electric vehicles as well as a regional hub for aircraft maintenance.

The EEC managed to draw 297 billion baht ($9.3 billion) in promised investment in 2017.

 

CP is headed by Thailand’s richest man, Dhanin Chearavanont, who has a net worth of $16.5 billion, according to Forbes latest estimates.

 

CP, not known for its expertise in rail engineering, had previously said its consortium and strategic partners include China’s CITIC Group Corp, China Railway Construction, South Korea’s Hyundai, Germany’s Siemens, Italian-Thai Development Pcl and Japan Bank for International Cooperation.

 

Dhanin’s businesses include pork and poultry farms in CP Foods Pcl and convenience stores in CPALL Pcl. Other interests span from a stake in Ping An Insurance Group, telecommunications, real estate and partnerships with Chinese auto-maker SIAC Motor Corp and Japan’s Itochu Corp.

 

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-- © Copyright Reuters 2019-05-13
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15 minutes ago, snoop1130 said:

The rail link will connect Thailand’s main international airport Suvarnabhumi to low-cost carrier airport Don Muang and U-Tapao airport in eastern Thailand

Why would anyone want to get a train from Swampy/Don Muang, to U-Tapau?

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These people throw away money like water instead of creating more responsible social programs for the needy and poor in Thailand. Some Thais such as construction workers will benefit due to the creation of jobs but that would be only temporarily of course. What a waste.

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It

15 minutes ago, wgdanson said:

Why would anyone want to get a train from Swampy/Don Muang, to U-Tapau?

Good question wgd.

The line is already one third constructed. All they need to do is extend the Bangkok end of the Airport Rail Link up to DMK and put a Y in at Swampy with a direct connection down to U-Tapao. It's not rocket science, but it is basic railroad construction common sense.

Charoen Pokphand Railway? Already taken. image.jpeg.0fd70ecfd7050e67ee7d07ff8b17e0b7.jpeg

 

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14 minutes ago, Samuel Smith said:

And the rich get richer!  Why high speed on such short distances?

So the elite can get to lovely Pattaya so much quicker

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1 hour ago, wgdanson said:

Why would anyone want to get a train from Swampy/Don Muang, to U-Tapau?

 

55 minutes ago, GaryAdriaenssens said:

These people throw away money like water instead of creating more responsible social programs for the needy and poor in Thailand. Some Thais such as construction workers will benefit due to the creation of jobs but that would be only temporarily of course. What a waste.

Hardly shortsighted. U-Tapao will be a major passenger and air cargo hub within 10 years which Thailand desperately needs as both BKK & DMK are at cargo capacity even now.  If the sea freight bottle-neck at laem Chabang can be relieved, Thailand's freight transportation infrastructure will be the best in SE Asia.   The eastern seaboard has more than tripled  it's manufacturing output over the last 15 years and with proper transportation infrastructure, will probably exceed that rate the next 15 years. This will create large numbers of highly technical and high paying jobs; the payoff to Thailand will be huge. 

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2 minutes ago, dddave said:

 

Hardly shortsighted. U-Tapao will be a major passenger and air cargo hub within 10 years which Thailand desperately needs as both BKK & DMK are at cargo capacity even now.  If the sea freight bottle-neck at laem Chabang can be relieved, Thailand's freight transportation infrastructure will be the best in SE Asia.   The eastern seaboard has more than tripled  it's manufacturing output over the last 15 years and with proper transportation infrastructure, will probably exceed that rate the next 15 years. This will create large numbers of highly technical and high paying jobs; the payoff to Thailand will be huge. 

But high speed rail not needed, just a regular rail link

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3 minutes ago, Samuel Smith said:

But high speed rail not needed, just a regular rail link

A fast and efficient method of moving passengers between connecting airports and destination areas is a key component of making smaller airport facilities function well rather than continuing to expand BKK into a mega airport.

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imageproxy_php.jpeg.71b08ea5976cb4a654d6444b631a66f8.jpeg

This is great news for Thailand and Bangkok specifically.

Khun Prayut Chan O Cha continues to create infrastructure and create jobs.

Farangs just want to whinge about anything and everything, for god sake get a life and stop complaining.... lol

 

 

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1 hour ago, dddave said:

 

Hardly shortsighted. U-Tapao will be a major passenger and air cargo hub within 10 years which Thailand desperately needs as both BKK & DMK are at cargo capacity even now.  If the sea freight bottle-neck at laem Chabang can be relieved, Thailand's freight transportation infrastructure will be the best in SE Asia.   The eastern seaboard has more than tripled  it's manufacturing output over the last 15 years and with proper transportation infrastructure, will probably exceed that rate the next 15 years. This will create large numbers of highly technical and high paying jobs; the payoff to Thailand will be huge. 

 

Are you suggesting that air freight is going to move ( at "high speed") between the 3 airports by rail, rather than fly directly to the one closest it's ultimate destination and then travel by road?

 

Would be "high speed " passengers (between DMK/BKK and U-Tapao?.....that's what regional jets are for) will be disappointed to find the train stopping at stations all the way up the Eastern seaboard, so "high speed" its just another "prestige" project that will never fulfill its notional and publicised objectives.

 

The unpublicised one (to make vast amounts of money out of its construction.......for the plutocrats) will succeed admirably.

 

 

 

 

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It's a goer! Don't knock it.

Next will be a ground breaking ceremony like there was 2 years ago for the BKK to Nhong Khai sector with the PM sinking the shovel and the booze flowing for his elite junta friends. 

Next move for this project will be ticket prices will be set 20 years in advance and plans drawn up for the luxury railway stations at each of the airports. Artists impressions of the trains at the stations will be something to behold. Hope they show the long queues at the ticket counters like the BTS.

In the meantime it will take an eternity (years) for envelope size to be agreed up and a contract signed. That's the way business is done in Thailand.

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2 hours ago, wgdanson said:

Why would anyone want to get a train from Swampy/Don Muang, to U-Tapau?

It's faster to drive to u-tapao, park there and take the train to DMK than battle through the BKK traffic. Even better if the "high speed" train would stop at Pattaya, which of course takes time and makes it low speed. Still much better than nothing. If it ever gets built. Which now that CP is in it might actually happen, as long as the junta gives CP whatever they wanted in return.

 

 

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3 hours ago, wgdanson said:

Why would anyone want to get a train from Swampy/Don Muang, to U-Tapau?

The goal is to make the east a center for hi-tech industries such as robotics and electric vehicles as well as a regional hub for aircraft maintenance.

 

Plus Rayong.

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15 minutes ago, DrTuner said:

It's faster to drive to u-tapao, park there and take the train to DMK than battle through the BKK traffic. Even better if the "high speed" train would stop at Pattaya, which of course takes time and makes it low speed.

 

 

It very likely will stop at Pattaya. The Chinese HST stops en route between major cities and still reduced travelling time by 66%. U-Tapao to Pattaya, 15 minutes. Cushty.

 

I wonder what they'll charge?

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7 minutes ago, Traubert said:
3 hours ago, wgdanson said:

Why would anyone want to get a train from Swampy/Don Muang, to U-Tapau?

The goal is to make the east a center for hi-tech industries such as robotics and electric vehicles as well as a regional hub for aircraft maintenance.

 

Plus Rayong.

 

Don't forget the 48 new malls, at each stop along the way...

 

Along with the tremendous boost in condo and land values because more workers can now get to BKK on mass transit.

 

$$$  Cha Ching!

 

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3 hours ago, snoop1130 said:

The high-speed train project is slated to be completed in five years

Five years my ass! It has taken BTS 5 years to to build a 10km extension from Mot Chit to Bang Khen; and it's still not finished. In Thailand, dreams are limited by capabilities. This project will be no exception.

But it is good to see the "Black Panther" CEO of the the Italian-Thai Development Co is in the shuffle of the filthy rich companies involved in the project. I see an acquittal coming up.

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They really need to improve Pattaya infrastructure. Roads are clogged and flooded, sois are filled with stinking garbage, beaches are filthy. I want to see Pattaya become a nice city as I plan to spend 6-month there.

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3 hours ago, snoop1130 said:

Dhanin’s businesses include pork and poultry farms in CP Foods Pcl and convenience stores in CPALL Pcl. Other interests span from a stake in Ping An Insurance Group, telecommunications, real estate and partnerships with Chinese auto-maker SIAC Motor Corp and Japan’s Itochu Corp.

He made an impression on these guys when he visited the park recently.

 

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1 hour ago, Cadbury said:

Five years my ass! It has taken BTS 5 years to to build a 10km extension from Mot Chit to Bang Khen; and it's still not finished. In Thailand, dreams are limited by capabilities. This project will be no exception.

But it is good to see the "Black Panther" CEO of the the Italian-Thai Development Co is in the shuffle of the filthy rich companies involved in the project. I see an acquittal coming up.

include China’s CITIC Group Corp, China Railway Construction, South Korea’s Hyundai, Germany’s Siemens, Italian-Thai Development Pcl and Japan Bank for International Cooperation.

 

I dont think these fellers were involved in the BTS. They built 20k km in nine years in China. Runs like clockwork.

 

 

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'Thailand's richest man, 12 others to build $6.8 billion high-speed rail'

So, they will personally lose money if it is not profitable?  They won't?  Why not?

If the richest man is worried it will not make a profit why should the taxpayers of Thailand be his backup insurance?

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4 hours ago, wgdanson said:

Why would anyone want to get a train from Swampy/Don Muang, to U-Tapau?

It is not for people wanting to travel from U Tapao to Don Mueang is it. No-one is going to get a flight from one and transit to the other.  That's not the point of it.  That's pretty obvious isn't it?  

 

It is a railway serving the EEC and connecting it to Bangkok.  There is a massive EEC development plan under way and this is a major component of it.

 

You really think it's being built to transfer passengers from Suvarnaphumi to U Tapao?  

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4 hours ago, Samuel Smith said:

And the rich get richer!  Why high speed on such short distances?

So that the journey time is quicker, so they than run more trains per day, so they can carry more pax per day. Simple innit?

 

A perfect example is the Zhuhai-Guangzhou high speed railway. 143 km in length,  200kph, and 22 stations. Great service. I've used it a few times.

 

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2 hours ago, DrTuner said:

It's faster to drive to u-tapao, park there and take the train to DMK than battle through the BKK traffic.

 

Er, right, course it is, totally spot on there.

 

Quote

Even better if the "high speed" train would stop at Pattaya, which of course takes time and makes it low speed. Still much better than nothing. 

It stops at Pattaya.  Why wouldn't it?  And why would that change the speed of it?  How long do you think a train needs to slow down?  50 miles?

 

Trains in the UK are comparable to this.  Virgin from Euston to Liverpool Lime Street goes a similar speed (200-220 kmph) and is about 250km.  It stops several times along the way.  Why can't this one?  Why does stopping at stations (a train's raison d'etre) make it a low speed train???

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