Bangkok clears long-overdue debt to BTS worth over 36 billion baht
Debt dispute settled after years of pressure from rail company
The Bangkok Metropolitan Administration (BMA) finally settled full payment of more than 36 billion baht in debt, including interest, to the Bangkok Mass Transit System (BTS).
BTS Chairman Keeree Kanjanapas announced yesterday, October 30, that the company had received the full payment from the BMA. The amount includes 31.48 billion baht in principal and 4.96 billion baht in interest.
Keeree explained that around 15 billion baht from the payment will be used to clear company debts, while the remaining 20 billion baht will be reserved for upcoming repayments and future investments.
BTS CEO Surapong Laoha-Unya clarified that the 36 billion baht payment covered unpaid operating fees for the Green Line extension from December 2017 until now. He added that BTS had already reduced the total amount by 200 million baht as a goodwill gesture.
During a press conference, Keeree stated…
“I’m very happy because the company has faced pressure for many years. If we didn’t keep following up, the BMA would take a long time to consider the issue. Meanwhile, we still had to pay our staff and daily operating costs. Now, this burden will no longer pressure us.”
Keeree also clarified that BTS has no involvement in the planned fare increase for the Green Line extension, which will rise from 17 to 45 baht per trip from the current flat rate of 15 baht, starting November 1, 2025. The total fare, including the main line, will be capped at 65 baht.
Under the contract, the BMA must pay around 740 million baht by the 20th of each month for train operations.
The company believed that receiving this payment would boost confidence among both investors and passengers, as it strengthens BTS’s financial stability. BTS and the BMA also signed an agreement to ensure future payments are made on time.
Keeree added that BTS supports the government’s plan to reduce travel costs through a daily 40-baht unlimited train pass for all passengers and said the company would be happy to join the scheme.
If implemented, BTS expects ridership to increase by 50 to 70 percent from the current two million trips per day. The company confirmed it has enough train capacity to meet the expected rise in demand.
The full repayment marks the end of a long financial dispute between the two parties. Looking back to 2022, BTS publicly urged the BMA to settle its debt by releasing a video of Keeree’s debt-collection message, which was broadcast on every screen inside BTS trains and across station platforms.
At the time, BTS employees also staged protests, demanding payment and stressing that they needed their salaries to support their families.
Latest Thailand News
Follow The Thaiger on Google News:
