Srettha claims economical advantages despite reservations.
PUBLISHED: 05 :44 on January 5, 2024.
The 1 trillion ringgit Land Bridge proposal was defended by Prime Minister Srettha Thavisin and Pheu Thai MPs on Thursday, claiming that it will aid in the nation’s economy and growth.
Mr. Srettha, who was tasked with responding to MPs ‘ inquiries about the job during the House conversation on the 2024 fiscal resources on Thursday, stated that if it is successful, it could help boost the economy.
Thailand wants to serve as a global shipping hotspot, according to Mr. Srettha. He continued,” This initiative will help the nation become more competitive.”
Given that 60 % of the fuel used worldwide passes through the stretch of water, the project also helps to reduce congestion on the Strait of Malacca, he added.
Since the country has no conflicts with other countries, the authorities” conducted this venture with the current political picture in mind,” he continued.
Additionally, Mr. Srettha stated that the project will enable other nations to employ Thailand as a transportation hub.
He declared that he would hold a public hearing about the megaproject’s effects with residents of the counties of Ranong and Chumphon, which are expected to be the sites of it.
In case the job is approved, the state has finished compiling information on it, including the one on the South Economic Corridor, according to Pheu Thai record MP Sriyada Palimaphan.
According to a study, this venture will boost the GDP by 1.5 %.
The proposal, according to Ms. Sriyada,” comes at the right time” in light of worries about traffic overcrowding in the Malacca Strait.
According to her, the site’s planning really began during the Thaksin Shinawatra administration, and related projects were completed under the Prayut Chan-o-cha administration.
The land bridge initiative, which is estimated to be worth 1 trillion baht, includes deep-water slots in Ranong and Chumphon, a motorway that cuts across the property to connect the two regions and an extensive railway network.
With a budget of about 6.21 billion ringgit for property eviction, the initiative aims to develop the docks and the streets connecting the two.
The plan is divided into four phases based on a timetable for the site’s growth.
Approximately 610 billion ringgit did be spent on the first step, followed by 165 billion, 229 billion and 85.1 billion in the third and fourth phases, respectively.