Land bridge project draws interest from over 100 companies: ministry
More than 100 Thai and foreign companies have shown interest in investing in the government’s ambitious land bridge project that would serve as a link between the Pacific and Indian oceans in the South of Thailand, the Transport Ministry said on Friday.
The ministry’s Office of Transport and Traffic Policy and Planning hosted a market sounding event in Bangkok on Thursday and invited those who were interested to express their opinions and concerns about the 1-trillion-baht project.
The mega-project involves constructing deep-sea ports in Chumphon and Ranong and transforming transport routes between the two provinces to link the ports. The land bridge is expected to help ease shipping congestion in the Malacca Straits, currently the main regional trade route for cargo.
Deputy Transport Minister Manaporn Charoensri told participants that foreign investors had shown overwhelming interest in the project during the roadshow events overseas conducted by Prime Minister Srettha Thavisin and ministry executives.
Investors from China, Japan, and the United Arab Emirates have already visited the areas to conduct preliminary surveys, she added.
Apart from direct benefits to logistics operators, the private sector would also be invited to take part in the development of commercial projects around the land bridge and benefit from concession contracts over 50 years, she said.
Among the interested investors are operators in shipping, logistics and industrial estates, as well as property developers, banks and providers of related services. They include WHA Industrial Development, Amata Corporation, China Harbour Engineering, Evergreen Container Terminal, Hebei Port Group, Sinotrans Thai Logistics, Siam Piwat, Bank of China, Nippon Koei, and Mitsubishi.
The office said it would use opinions and suggestions from the participants to prepare the request for proposal, as well as the draft of the Southern Economic Corridor Act that will cover legal requirements, conditions, and privileges for investors in the project.
The bidding process is expected to start in the last quarter of next year.
