Somkid instructs mega projects to be wrapped up and inked in 6 months

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Somkid instructs mega projects to be wrapped up and inked in 6 months



BANGKOK: -- Deputy Prime Minister Somkid Jatusripitak wants all mega projects worth altogether 900 billion baht to be inked within the first half of this year.

Dr Somkid who chaired a meeting of the so-called Super Board today (Monday) said he had instructed agencies responsible for implementing mega projects to speed up the signing of mega project deals within the first six months of the year so that the investment budget will begin to be disbursed in the later half of the year which will help enhance the economy.

Finance Minister Apisak Tantiworawong, chairman of the Super Board, said that the Transport Ministry is responsible for implementing several huge construction projects such as expansion of highways, the new runway at Suvarnabhumi airport, expansion of Laem Chabang deep-sea port and the dual-track train project worth altogether 900 billion baht.

About 66.8 million baht investment budget earmarked for mega projects will be disbursed this year excluding another 15 million baht investment budget to be disbursed by the Ministry of Information Technology and Communications.

On top of that, the finance minister said that there will be investments from the private sector for several projects already approved by the Board of Investment to take advantage of tax deductions pledged by the government.

Source: http://englishnews.thaipbs.or.th/content/148038


-- Thai PBS 2016-01-26

[coulson]

Isn't rushing the deals on huge mega infrastructure projects what leads them early over budget and grinding to a halt.

Not a mention about feasibility studies....

[bangkokfrog]

There must be a new model Benz coming out. Forget consultation with the people affected on the ground, economic feasibility studies and environmental impact statements,.... Just get the bloody things signed off so the money can flow to help the er... "economy".

[sharpjwe]

Good.action.no talk.

Then the infrastructure is ready in time .

I built big projects for 40 years.

They takes years to sing .

Then they want instant delivery.

Sign fast.give decent build time.

[ChrisY1]

These guys are "mega project" insane........IMO, the best that can happen, will be poorly planned and constructed projects......cost and time over-runs will prevail...they just don't have the expertise for this level of infrastructure build from what I've seen....and certainly not to manage Chinese constructors.

All on borrowed funding from mostly China.....!

The winners here will be these guys, there families and the Chinese......!

[waldroj]

Slow down,and think about it - the initial costs will not be the end of it!

One has to question if proper planning (for the necessary ongoing maintenance) has been included in the rush to start work.

One also has to wonder why the urgency. A cynic might suggest that the kickbacks come with the signing of contacts.

[bark]

Just give them a chance. Maybe this time it will be different.

[wabothai]

the guy had dinner with his boss.

[Nicki D]

Hurry up and finish all those "Mega White Elephant" projects that will never be able to support themselves for the next 200 years. Show me one profitable railway line on this earth, goods or passengers, and I'll show you what it considered as income, "Government's Subsidy". Shallow minded economic stimulus that will prove disastrous and will forever be great burdens for Thailand's next unforeseeable generations.

[Srikcir]

Somkid was expecting a turn around of the economy in 5-7 years by restructuring the economy away from exports to domestic consumption - the same approach by China but over a longer period. His stimulus plan for 2015 was intended only for a quick albeit small "jump start" to reverse a deteriortaing growth rate, to be followed by massive annual private and government investments for 3-5 years in Thai infrastructure supporting transportation, agriculture, manufacturing and retail industries.

But now it seems suddenly he has new orders to accelerate the economic with greater recovery with eight months left in the FY 2016 budget. Perhaps the junta believes that a short term success in boosting economic growth in 2016 will help promote public support its draft constitution in the referendum. And if the recovery can be sustained into 2017, pro-royalist/military candidates might be more receptive to the Thai electorate in the next elections. Bith events thus assuring military dominance in Thai governance.

The problems is that the economic return on infrastrucrure doesn't happen that quickly to affect economic growth rates. Especially where the government borrows money for investment purposes., ie., the Chinese dual rail project. Somkid knows this so his orders must be more politically motivated by hope than by economic reality.

[sharpjwe]

Good.action.no talk.

Then the infrastructure is ready in time .

I built big projects for 40 years.

They takes years to sing .

Then they want instant delivery.

Sign fast.give decent build time.

[tbthailand]

AKA - get your money in the brown bags and get it there fast...

[DrTuner]

900B ought to mean around 5-6T after expenses. Small change.