The cabinet on Tuesday gave a green light to the 200 billion baht high-speed train project connecting three international airports of Suvarnabhumi and Don Meuang in Bangkok and U-taphao in Rayong.
Mr Natthaporn Jatusripitak, an advisor to the Prime Minister’s Office minister, told the media after the cabinet meeting that investment of the project would be in the form of public-private-partnership (PPP), with the private sector investing in the engineering work, railway system, train carriages, land development to support train services, management of train service and maintenance as well as revenue collection from development of land under the project.
He said that the private sector will be responsible for managing the train system for up to 50 years.
As far as the government is concerned, Mr Natthaporn said the government’s investment would total 119,425 million baht to be paid in instalments within ten years.
The cabinet also decided to incorporate land on both sides of the train routes from Don Meuang to Suvarnabhumi airports as part of the Eastern Economic Corridor project.
Mr Natthaporn said that the train project would generate economic returns estimated at about 700 billion baht from added value of U-Taphao airport, reduction of fuel costs and pollution, increased employment and tax collection and development of areas around train stations.
Terms of reference of the bid of the project will be worked out after which a public auction will be staged to select the builder of the project, he added.