The Public Debt Management Office (PDMO) says construction projects for highway repairs and roadwork will launch soon. The majority of the 77-billion baht investment budget will be injected into the country’s economy this year.

Theeraj Athanavanich, PDMO’s deputy director-general, said that 4 billion baht is reserved for construction contracts that will complete the proposed highway repairs and roadwork. Another 3.7-billion baht is reserved for a water management project that is expected to be signed within the next 30 days.

Once all the contracts are signed, work can begin. The cabinet approved the investment projects on March 17 after expediting the process. Mr. Theeraj estimates that it will take approximately 90 days for all of the 5,000 contracts to be signed. So far, the project is progressing as planned.

Mr. Theeraj also stated that it’s essential to accelerate disbursement to help boost domestic consumption. It’s the responsibility of state agencies to encourage contractors to submit payment request documents during each phase of the project and to speed up their work. However, some contractors are having a difficult time adjusting to this format, which slows the progress of the projects.

The state has borrowed 57 billion baht from banks to fund these projects. The debts will later be refinanced through long-term bonds.

-- 2015-04-06

Seems the Government will follow the lead of western countries. Borrow 75% for basic infrastructure then send the debt to La La land and get the contractors to put their hands up to be paid immediately.

A very sad state of affairs and not one mention of the Airline block to other Asian countries and Thai Air still hemorrhaging money and not expected to get back to the black until next year. Heard that story every year! Corruption comes in many forms and seems it is getting refined further.

Oh and while I'm at it, the rice pledging scheme which also cost billions is now being replaced with a rubber pledging scheme buying way above Chicago Futures prices. When will they learn?

It looks like that road will require repairing on a monthly basis.

It looks like that road will require repairing on a monthly basis.

That is the plan!!

More millions to be pocketed each time!!

...estimates that it will take approximately 90 days for all of the 5,000 contracts to be signed.

5,000??!!! Must involve a ton of small contracts to spread the money far and wide at the lowest levels....many Somchai and Son construction companies and local govt officials will be smiling.