Team Thailand aims to entice partners to Land Bridge Project at US summit
Transport Minister Suriya Jungrungreangkit will promote the proposed Land Bridge Project as he accompanies the Prime Minister to the Asia-Pacific Economic Cooperation (APEC) summit in the United States from November 11 to 17.
The Land Bridge Project is a key investment initiative of the new government, and is aimed at enhancing travel, trade, and transportation. During the APEC summit, the Ministry will seize the opportunity to promote the project, encouraging both domestic and international private sector participation. The Cabinet has already endorsed the project's fundamental principles, entrusting the Ministry to initiate presentations that will attract investors to participate in project.
“The ministry will utilize sideline meetings for discussions on transportation and logistics cooperation, with the objective of positioning the Land Bridge as an attractive gateway for private investors,” said Suriya. “Moreover, the Ministry intends to extend the project’s promotion to multiple countries in the first quarter of 2024.”
The government is moving the project forward through several channels, including through an Act to create a Southern Economic Corrider which will feature the Land Bridge Project. The Act is expected to be finalized by the end of next year.
Subsequently, an office dedicated to the development of the Southern Economic Corridor will be established as the primary entity responsible for driving the project. Once these initial steps are accomplished, it is anticipated that private-sector investment proposals for the land bridge will begin in 2025.
According to the framework approved by the Cabinet, the private sector is slated to submit its proposals from April to June 2025. Following this, the Cabinet will endorse the list of successful bidders in August 2025, enabling construction start in September 2025. The construction phase is estimated to span around five years, with the project projected to become operational by October 2030.
The Office of Transport and Traffic Policy and Planning (OTP) is currently evaluating the implementation of a total budget exceeding 1 trillion baht. This budget allocation is distributed across various projects, including:
300 billion baht for the Chumphon deep-sea port;
330 billion baht for the Ranong deep-sea port;
140 billion baht for the development of a goods transport system between the ports;
220 billion baht for the development of land and rail links connecting the ports.
