Bangkok repays 2.3 billion baht in debt owed to BTS Skytrain

[webfact]

 

Bangkok Governor Chadchart Sittipunt announced yesterday that the Bangkok Metropolitan Administration (BMA) had repaid its 2.3 billion baht in debt to the Bangkok Mass Transit System, commonly known as the BTS. It is hoped that this debt repayment will give the private sector confidence to invest in future projects with the BMA.

 

The debt owed by BMA to the BTS became a matter of public interest after Skytrain publicly shamed government officials by airing debt collection videos on every screen inside the trains and stations in 2023. The operator also threatened to shut down the train system if the BMA failed to repay the debt.

 

Chadchart reported in a press conference yesterday, April 4, that the BMA had already issued a cheque to the BTS on April 2 after thorough consideration by the Bangkok Council.

The 57 year old Bangkok chief stated that the BMA hoped this debt repayment would make the private sector more confident in investing in future projects with the BMA and recognising the importance of urban development.

Chadchart added that the annual budget allocated to the BMA might prove insufficient to fund all forthcoming infrastructure projects. The BMA is hopeful that the private sector will place trust in its capabilities and collaborate effectively with officials.

 

A report by Bangkokbiznews indicates that this debt is associated with the BTS Green Line project and its extensions, linking Bangkok, Samut Prakarn, and Pathum Thani. Workpoint Today highlighted that the initial repayment of this debt amounts to approximately 30 billion baht, with 2.3 billion baht designated for the electrical and mechanical systems’ expenses.

 

The remaining debt includes 6.9 billion baht for the construction of two extensions (Bearing to Kheha station and Mor Chit to Khu Khot station) and more than 9 billion baht for operational costs since April 2017.

 

In an interview last year, Chadchart revealed that BMA receives about 80 billion baht in budget per year, which is allocated to transport, urban planning, waste disposal, etc.

 

The governor also mentioned the new train lines in Bangkok last year, the Gray Line (Watcharapon-Thong Lor) and Silver Line (Bang Na-Suvarnabhumi Airport). The projects were reported to be under study, and there are no new updates on the projects now.

 

by Petch Petpailin

Photo via Facebook/ กรุงเทพมหานคร

 

Source: The Thaiger 2024-04-05

 

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[Will B Good]

9 minutes ago, webfact said:

It is hoped that this debt repayment will give the private sector confidence to invest in future projects with the BMA.

That ship sailed a long time ago.

[eyeman]

4 minutes ago, Will B Good said:

That ship sailed a long time ago.

 

Yep Hopewell Holdings put those nails in the coffin a long time ago.

 

[hotchilli]

3 hours ago, webfact said:

The debt owed by BMA to the BTS became a matter of public interest after Skytrain publicly shamed government officials by airing debt collection videos on every screen inside the trains and stations in 2023. The operator also threatened to shut down the train system if the BMA failed to repay the debt.

Seemed to have worked... shame the BMA into paying .

[john donson]

what they paid would be considered INTEREST 

[RobU]

Perhaps now SkyTrain can afford to tighten bolts properly and implement careful checks and maintenance to stop bits falling off

[bamnutsak]

2.3 B represents about 10% of the total amount owed by the BMA to the BSTC.

 

 

 

BMA gets green light to pay 23.48bn debt to Skytrain operator BTSC

 

The governor told councillors it would be best if the BMA paid the debt quickly to avoid interest charges. If the debt is paid by April 4, the payment plus interest would total 23.488 billion baht, he said.

 

https://www.nationthailand.com/thailand/general/40034804

 

 

 

BMA will have paid off some its debt to BTS operator within April, vows Chadchart

The Bangkok Metropolitan Administration (BMA) should be able to pay the 23 billion baht it owes to the operator of BTS Skytrain by April, Bangkok governor Chadchart Sittipunt said.

 

“I hereby confirm that everything will be done within April,” the governor said.

 

https://www.nationthailand.com/thailand/general/40036290

 

 

 

[digbeth]

31 minutes ago, RobU said:

Perhaps now SkyTrain can afford to tighten bolts properly and implement careful checks and maintenance to stop bits falling off

 

The shoddy monorail is another project, actually owned by MRT, the underground company, but operated by BTS, and not connected to this money pile 

[RobU]

27 minutes ago, digbeth said:

 

The shoddy monorail is another project, actually owned by MRT, the underground company, but operated by BTS, and not connected to this money pile 

My bad. Thanks for the info. I was under the false impression that all public transport was operated by the same company 

[Deserted]

Took some time for them to finally cough up, didn't it?

[Liverpool Lou]

On 4/5/2024 at 10:48 AM, eyeman said:

Yep Hopewell Holdings put those nails in the coffin a long time ag

Nope, that didn't stop private sector investments.