Compromise may save expressway authority from paying sky high fees to expressway operator

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Compromise may save expressway authority from paying sky high fees to expressway operator

 

Photo from BEM FB

 

The Expressway Authority of Thailand (EXAT) board has agreed to extend the concession period of NECL, a subsidiary of Bangkok Expressway and Metro Public Company (BEM), to operate two expressways for another three years, in order to end a legal battle which may result in EXAT being ordered to pay as much as 130 billion baht to NECL.

 

EXAT board chairman Surong Bulkul said Wednesday that the compromise was the result of lengthy negotiations between EXAT and BEM after the Administrative Court ordered EXAT to compensate BEM’s subsidiary, NECL, for building the second stage expressway, known as Srirat expressway and the D section, in direct competition with the Bang Pa-in-Pakkred expressway, which was built and is operated by NECL under a concession.

 

He said that, during the negotiations, BEM agreed to reduce the amount of compensation, incurred from the current and any future legal conflicts, from 130 billion baht to 59 billion baht.

 

Full story: https://www.thaipbsworld.com/compromise-may-save-expressway-authority-from-paying-sky-high-fees-to-expressway-operator/

 

 

-- © Copyright Thai PBS 2019-05-16

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