BoI / high speed train

Chatrudee Theparat

An extra period given for CP-led consortium, AERA1, until this May to ask for the promotional certificate as the last time

The Board of Investment gives more time to AERA1 until this May to submit additional investment plan to build a high speed rail project connecting three airports Don Mueang, Suvarnabhumi and U-tapao airport.

Secretary general of the BOI, Narit Therdsteerasukdi said BoI approved for AERA1 to submit an additional investment plan to BoI within this May for four months from an expiry date of promotional certificate as of January 22.

AERA1 appealed to BoI again last January as the third time to extend a promotional certificate of a high speed rail project.

AERA1 is a joint investors and operators of a high speed rail project connecting three airports Don Mueang, Suvarnabhumi and U-tapao airport.

AERA1 won the bid from SRT to build the high-speed rail linking three airports, one significant flagship infrastructure project in the Eastern Economic Corridor (EEC).

Mr Narit said BoI held a meeting with AERA1 and related agencies of the Eastern Economic Corridor Office (ECCO) and State Railway of Thailand on February 15. The company provided additional information and still showed intention to further investment. However, the company asked for extra time to settle an contract amendment with SRT.

“The company is required to submit additional investment plan by this May as the third time. The BoI’s law can extend only three times for a promotional certificate. The agency expected a solution soon among the company and SRT.”

AERA1 won BoI’s privileges from BoI on June 13, 2020, the company asked for an extension for the promotional certificate two times in eight months. The company informed that there was essential reason to ask for the extension of promotional certificate due to incomplete contract amendment.

EECO and SRT agreed that the company should accelerate to develop the project because it plays a significant role to EEC and it could create confidence among foreign investors in EEC.