BMA ready to pay debt related to Green Line extensions
The Bangkok Metropolitan Administration (BMA) is ready to pay off the debt for the BTS Skytrain Green Line extensions, and is preparing to pay the first instalment of the 22 billion baht owed.
On October 15, Krungthep Thurakij news website reported the progress regarding the settlement of the debt owed to the Bangkok Mass Transit System (BTSC) for the installation of the electrical and mechanical systems for the Green Line extensions. This comes after the Bangkok Metropolitan Council received guidelines on resolving the issues related to this long-standing dispute from the Bangkok Metropolitan Council and BMA executives on October 4.
These proposed to proceed with the resolution concerning the details of the amount, payment conditions, and the preparation of additional agreements for the transfer of assets related to the installation of the electrical and mechanical systems of the project.
Krung Thep Thanakom Co Ltd recently held discussions with the BTSC, leading to the agreement on the principal and interest to be paid. A letter informing the Bangkok Metropolitan Administration about this agreement has been sent.
It is reported that the BMA is currently in the process of presenting the proposal to the Ministry of Finance to consider whether they can support this debt. If the Finance Ministry is unable to provide support, the proposal will be submitted to the Bangkok Metropolitan Council for further budget allocation considerations.
