Thailand seeks 1 trillion baht investment for southern land bridge
The Office of Transport and Traffic Policy and Planning is organising a roadshow targeting foreign investors for the upcoming southern land bridge megaproject. Scheduled to kick off next month, the roadshow will span 10 countries, including notable names in the logistics and maritime shipping sectors, such as China, Japan, France, and Taiwan.
The intelligence gathered from this event will be crucial in enhancing the megaproject before its final plan is presented to the Cabinet for approval. Public hearings are also on the cards in Ranong and Chumphon provinces next month, leading up to an environmental health impact assessment.
This initiative is in line with Prime Minister Srettha Thavisin’s push to fast-track the southern land bridge megaproject. The project, worth an estimated 1 trillion baht, outlines the establishment of deep-water ports in Ranong and Chumphon, a motorway connecting the two provinces, and a railway system.
It is envisioned as a logistics network linking Ranong on the Andaman Sea to Chumphon on the Gulf of Thailand and is regarded as a potential economic boost through investment and enhanced transport links.
The southern land bridge project’s timeline splits the scheme into four phases. The first phase will require approximately 610 billion baht, the second 165 billion baht, the third 229 billion baht, and the fourth cost 85.1 billion baht, reported Bangkok Post.
The development of the ports in Ranong and Chumphon and their interconnection will require a budget of about 6.21 billion baht for land expropriation. The bidding process is tentatively due to take place by mid-2025, with the contract signing expected in the third quarter of the same year. This bidding process will encompass all infrastructure schemes within the southern land bridge megaproject.
Previously, Kriengkrai Thiennukul, chairman of the Federation of Thai Industries, revealed that Chinese investors have shown interest in participating in the southern land bridge project, particularly in deep-sea port development. The 61 year old Thai prime minister, during his recent visit to China to attend the 3rd Belt and Road Forum for International Cooperation, extended an invitation to investors from China and other nations to partake in this project.
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