Outside interest spurs venture
PUBLISHED: 6 Aug 2024 at 04: 00
The Office of Transport and Traffic Policy Planning ( OTP ) announced yesterday that several businesses from China, the United Arab Emirates, and the United States have expressed interest in funding the southern Land Bridge megaproject as planned.
According to OTP director-general Panya Chupanich, if all goes according to plan, structure will start in 2026 and argue in 2030. The Land Bridge will give a second way for ships traveling from the Andaman Sea to the Gulf of Thailand, and evil opposite.
The Southern Economic Corridor, which will have two deep-sea ships built in Chumphon and Ranong and be connected by a road and railroad, may experience increased activity as a result of the Land Bridge.
He claimed that the organization is working on creating the ports and releasing the necessary EHIA record.
Meanwhile, the Department of Highways and the State Railway of Thailand ( SRT ) are designing the motorway and railway system, respectively, said Mr Panya, adding they will carry out their own environmental impact assessment ( EIA ).
He claimed that the authorities have until September of next year to finish the tasks, and that the project’s selling is anticipated to begin in late 2026 or early next year.
With a expenditure of 45.959 million baht, Mr. Panya added that the OTP will employ a specialist to prepare the necessary paperwork and provide advice on the selection of buyers. By the following month, the 840-day employment agreement is anticipated to be signed.
He also disclosed that foreign investors have shown an interest in funding the Land Bridge project, including those from Dubai Port World ( DP World ) and from Chinese and American companies. These firms ‘ senior executives have visited the location where the project may be carried out.
As such, the OTP is convinced that the Land Bridge initiative will continue, said Mr Panya.
In an effort to advance the Land Bridge initiative, the OTP is also urging the SEC Act to be approved. The work would see the four southern counties of Surat Thani, Nakhon Si Thammarat, Chumphon and Ranong, included in the Southern Economic Corridor. He claimed that the costs will be presented to the case by November, with the parliament expected to approve it in April of next year.