Economy

U-tapao and Eastern Airport City deal officially signed

Published

Saturday, June 20, 2020 10:59

PHOTO: Straits Times

The deal for a public/private partnership for the U-tapao International Airport and Eastern Airport City projects has been officially signed. The agreement is between the Eastern Economic Corridor Office of Thailand and U-tapao International Aviation Company. PM Prayut Chan-o-cha chaired the signing ceremony yesterday at Government House.

The deal is for a major infrastructure project to upgrade U-tapao, which serves Chon Buri and Rayong provinces, to become Bangkok’s third commercial international airport, linked with the Suvarnabhumi and Don Mueang international airports via high speed rail. The project will also create a business development hub in the 30 kilometres around the airport.

Connecting with Bangkok by sea, road, rail and air, the project is expected to drive Thailand to become a regional aviation hub and the prime gateway to Asia. In April Airbuses pulled the plug on their intention to partner with the project.

The project is expected to cost around 290 billion baht, with an expected 305 billion baht return; it is expected to generate tax revenues of more than 62 billion baht, create more than 15,000 jobs a year for the first 5 years, and encourage advanced technology and human resource development in aviation and related businesses.

The project is to be located in Ban Chang district of Rayong province, about 30 kilometres from Pattaya and Map Ta Phut industrial estate.

SOURCE: Thai PBS World

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Jack Burton

Jack Burton is an American writer, broadcaster, linguist and journalist who has lived in Asia since 1987. A native of the state of Georgia, he attended the The University of Georgia's Henry Grady School of Journalism, which hands out journalism's prestigious Peabody Awards. His works have appeared in The China Post, The South China Morning Post, The International Herald Tribune and many magazines throughout Asia and the world. He is fluent in Mandarin and has appeared on television and radio for decades in Taiwan, Mainland China, Hong Kong and Macau.

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