U-tapao and Eastern Airport City deal officially signed
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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