EEC mega projects will pull up the economy: Somkid

[webfact]

EEC mega projects will pull up the economy: Somkid

By THE NATION

 

Deputy Prime Minister Somkid Jatusripitak

 

The government should push ahead with the mega infrastructure projects in the Eastern Economic Corridor (EEC) as they are key to pulling the country out of economic trouble in the wake of the Covid-19 crisis, Deputy Prime Minister Somkid Jatusripitak said after meeting with the EEC Policy Committee on Thursday (May 21).

 

At the meeting, related agencies were given the job of setting up a working panel to coordinate both the upgrading of the U-Tapao International Airport and the Eastern Airport City Project at U-Tapao, as well as the development of high-speed railways linking U-Tapao Airport with Don Mueang and Suvarnabhumi airports.

 

The committee wants both projects to be developed simultaneously and completed at around the same time in a move to capitalise on their connectivity, maximise their economic benefits as well as offer additional convenience to the public.

 

The meeting also approved a draft contract on investment for the upgrading of U-Tapao International Airport and the Eastern Airport City Project. The draft will be presented to the Cabinet for approval, said Kanit Sangsubhan, secretary-general of the EEC Office of Thailand.

 

This draft will be signed by the Royal Thai Navy, which owns the project, and the winning bidder BBS consortium. The consortium comprises BTS Group Holdings, Sino-Thai Engineering and Construction, and Bangkok Airways.

 

Once upgraded, U-Tapao International Airport will serve as the third international airport of the capital. It is expected to generate up to Bt305 billion in financial returns from the lease of land and revenue sharing, as well as create 15,600 jobs in the first five years. All assets will be transferred to the state once the contract ends in 50 years.

 

The project, which covers 6,500 rais, include the world-class Terminal 3 as well as a commercial gateway, air cargo terminal, a maintenance repair and overhaul service centre, free trade zone, and aviation training centre.

 

Kanit said the project construction will begin this year and be completed in 2023.

 

Source: https://www.nationthailand.com/business/30388276

 

-- © Copyright The Nation Thailand 2020-05-22

 

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[Phil McCaverty]

As both projects were announced some time ago and allegedly already under way I guess he forgot.

 

Look at his photo. A clear case of advanced Alzheimer's.

[colinneil]

6 minutes ago, Phil McCaverty said:

As both projects were announced some time ago and allegedly already under way I guess he forgot.

 

Look at his photo. A clear case of advanced Alzheimer's.

I think you are correct, look at his face, that is the look of a very confused person.

[ThailandRyan]

They proposed these projects awhile ago as Post#2 says.  However, with Airbus pulling out of a project to team up with Thai Airways for maintenance, Thai Airways going into possible receivership with its bankruptcy, no tourism, and regional border closures, just how the **** does this <deleted> think it will boost the economy.  Putting people to work on the projects?, not going to help anything, it would take many years to complete and then, and only then, would Thailand see an economic uptick (possibly) from the sale of High end condos, shopping facilities, family venues etc....

 

I think in addition to Alzheimer's and dementia, someone's been taking the <deleted>, and maybe smoking some crack as well, but first one has to wonder how much of an investment this one person may already have in these projects....

[BobbyL]

I guess these guys are forgetting what is actually going on in the world right now. By the looks of Somkid I guess he should be self isolating at home due to his age. Everything he is referring to is relating to mass tourism needs (upgrading the airport and the new high speed rail linking the airports). Without that, there won't be a big economic boost. 

 

The EEC is the Junta's big idea. They are relying on this to make any success of their tenure, however When Airbus originally pulled out of the EEC project that showed us all what is most likely going to happen. Let's also not forget Thai media reporting fake news that Airbus' decision was because of Coronavirus, when in fact it had been mentioned months before. 

 

[robblok]

1 minute ago, BobbyL said:

I guess these guys are forgetting what is actually going on in the world right now. By the looks of Somkid I guess he should be self isolating at home due to his age. Everything he is referring to is relating to mass tourism needs (upgrading the airport and the new high speed rail linking the airports). Without that, there won't be a big economic boost. 

 

The EEC is the Junta's big idea. They are relying on this to make any success of their tenure, however When Airbus originally pulled out of the EEC project that showed us all what is most likely going to happen. Let's also not forget Thai media reporting fake news that Airbus' decision was because of Coronavirus, when in fact it had been mentioned months before. 

 

I think your wrong this has nothing to do with tourism but with commerce. Having said that I have no opinion about the projects as not investing is bad too. 

 

But yes like others have said this has been on the table for a long time. I think many businesses will not expand but contract so its likely that at first not much money will be made from these investments. (I still think that investment is good).

 

But this is typical trying to create some hope among all the bad news its something that often happens in Thailand. There will be bad news but they will project and twist things to show some possitive things.

[Phuketshrew]

1 hour ago, BobbyL said:

The EEC is the Junta's big idea. They are relying on this to make any success of their tenure

More likely relying on it to keep the trough topped up.

[Oziex1]

If they are to be the economic managers they want to be or think they are, why is Panasonic scaling down their investment in Thailand? Have the Thai government looked into this at all,  do they understand this and if so what mitigation is required to prevent others from doing the same are they able to provide an investment friendly environment for multinationals?

[herfiehandbag]

Their own national carrier has gone bankrupt, and rumours are starting to swirl about payments for leasing/renting aircraft being unaccounted for.

 

The International air travel business is dead in the water, airlines are going bust worldwide, and the world's deserts are littered with parked up airliners.

 

A massive proportion of the nation's workforce has been left out of work. The government has proved to be unwilling or unable ( either through incompetence or a lack of cash) to make even the most basic provision for them. It appears that even those who have paid into and should be covered by the government's own social security scheme are often unable to get support.

 

Major manufacturers are closing plants or moving elsewhere.

 

Building a third international airport and the associated transport ( high speed rail) is going to drag the Thai economy out of the doldrums?

[hotchilli]

7 hours ago, webfact said:

This draft will be signed by the Royal Thai Navy, which owns the project,

Why do they own the project?

[trainman34014]

Love the photo's they use of these Guys; they all look like dead men walking !

[Enoon]

4 hours ago, hotchilli said:

Why do they own the project?

 

Because they own the land upon which it is being built.

 

Remember the fuss about military ownership of land/engagement in commercial "enterprise", after the mass killing in Korat?:

"Navy, Air Force also asked to return state land"

https://www.nationthailand.com/news/30382218

 

Navy say "No, this land good very much money, mmmm, very much money.......like good" big smile.

 

 

 

 

 

Edited May 22, 2020 by Enoon

[Redline]

These people are completely lost