Leading companies from China, Japan, and the Netherlands participated in a “market sounding” event on Thursday in regards to Thailand’s Land Bridge megaproject, according to a source on Friday.
Prominent attendees included OOCL Logistics (Thailand) Co, SITC Container Lines (Thailand) Co, K Line (Thailand) Co, China Harbour Engineering Co, Evergreen Container Terminal (Thailand) Co, Maritime & Transport Business Solutions BV, Hebei Port Group Co, Royal HaskoningDHV, Siam Piwat Co, KWI Plc, Tokyu Corporation, WHA Industrial Development Plc, Amata Corporation Plc, Bank of China, and The Hokuriku Bank, as revealed by the source.
The event saw interest from China Harbour Engineering regarding a potential investment avenue, specifically inquiring about the government’s stance if an investor proposed constructing a new harbor in Ranong province within the project scheme, as per the source.
The Land Bridge initiative envisions two major ports, one in Chumphon on the Gulf of Thailand and the other in Ranong on the Andaman Sea, connected by a new highway and railway.
A single investor or consortium obtaining the investment rights through bidding would be entrusted with investing 1 trillion baht to materialize the project. This amount includes allocations of 330.8 billion baht for the Ranong harbor, 305.7 billion for the Chumphon harbor, and the remainder for the infrastructure linking the two.
Insights and expectations from potential investors will be gathered and integrated into the Southern Economic Corridor (SEC) bill presently under development.
Deputy Transport Minister Manaporn Charoensri anticipates Parliament’s approval of the SEC bill before international bidding can be initiated for the project’s first phase, slated to commence towards the end of next year.
The forthcoming legislation will establish the SEC policy committee and administrative office to oversee the implementation of the Land Bridge venture, as highlighted by Ms. Manaporn.
Originally endorsed by the cabinet on October 16, 2023, the project is structured to be carried out in four phases. The proposed business model involves a public-private partnership (PPP) net cost approach, wherein the winning bidder receives a 50-year concession to fund and manage the project, with governmental support to facilitate its progress, as indicated by Punya Chupanit, director-general of the Office of Transport and Traffic Policy and Planning.
