Interior Ministry to propose BMA-BTS partnership that includes 30-year Green Line contract extension: news source

By THE NATION

 

 

The Interior Ministry will today (August 13) propose to the Cabinet a public-private partnership contract between the Bangkok Metropolitan Administration (BMA) and BTS Group Holdings, in which BTS will be offered a 30-year extension of the Green Line concession contract in exchange for a Bt73-billion debt owed by the BMA, a State Enterprise Policy Office news source revealed.

 

The contract also sets a maximum fare price of Bt65 on Green Line routes.

 

According to the source, the contract had been approved by the Cabinet’s economic commission in late 2018 with all legal proceedings approved by the Office of The Attorney General as per the order of Prime Minister Prayut Chan-o-cha.

 

The BTS Green Line, which covers the Mo Chit-Onnuch and National Stadium-Saphan Taksin routes, is currently operated by the Bangkok Mass Transit System under a 30-year contract, which will end in 2029.

 

If the contract extension is approved, BTS will have a 60-year contract of operating the Green Line, or until 2059.

 

The BMA owes BTS around Bt73 billion, excluding interest, from the investment in construction of train infrastructure and other related systems.

 

The maximum Bt65 fare rate had been proposed by the BMA when the contract came into effect, as it felt this price is affordable for the general public.

 

Source: https://www.nationthailand.com/news/30392882

 

-- © Copyright The Nation Thailand 2020-08-13

 

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8 minutes ago, webfact said:

BTS will be offered a 30-year extension of the Green Line concession contract in exchange for a Bt73-billion debt owed by the BMA

I am not saying it is but a 30 yr extension to release a 73 billion debt ?

6 hours ago, webfact said:

The BTS Green Line, which covers the Mo Chit-Onnuch and National Stadium-Saphan Taksin routes, is currently operated by the Bangkok Mass Transit System under a 30-year contract, which will end in 2029.

 

If the contract extension is approved, BTS will have a 60-year contract of operating the Green Line, or until 2059.

A very confusing article.

 

- It refers to "the BTS Green Line", when in fact there are two Green Lines (though no one can agree on which is light green and which is dark green);

 

- It describes only the original legacy BTS routes that began service in 1999, even though the system has more than doubled in size since then, without explaining whether the new contract is for the entire system or only the legacy stations; and

 

- It says that the system "is currently operated by the Bangkok Mass Transit System" (BTSC), when all other references in the article are to BTS Group Holdings (BTSG) - the majority owner of BTSC, but not technically the same company.