Laem Chabang port project set to sail ahead after Thai Cabinet agrees to lower returns


BANGKOK (The Nation/ANN): The Laem Chabang Port development project is expected to cast off after the Cabinet agreed to adjust down the project’s estimated returns to the state to Bt29.05 billion, which is the value agreed to by both bid winner GPC Consortium and the Port Authority of Thailand (PAT), PAT director-general Lt-Junior Grade Kamolsak Promprayoon said on Wednesday (April 21).

The project includes the development of the third phase of Laem Chabang Port, also known as Port F.

GPC Consortium, which includes PTT Tank Terminal, a subsidiary of PTT; Gulf Energy Development, and China Harbour Engineering, had previously proposed a net present value (NPV) of returns to the state of Bt12.05 billion, lower than the default amount of Bt32.2 billion the state had expected from the project.

This led the Eastern Economic Corridor Office to propose to the Cabinet that it adjust the estimated returns down to Bt29.05 billion.

GPC will now present recommendations on increasing the efficiency of Port F to the Eastern Economic Corridor Office committee for its approval.

Kamolsak added that PAT has agreed to the lower returns to the state as it estimated that restarting the bidding process could delay Port F’s opening by up to two years. - The Nation/Asia News Network

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3

Thailand , Laem Chabang , port , cabinet , lower , returns

   

Next In Aseanplus News

Asean News Headlines as at 8pm on Sunday (May 16)
Covid-19 cases in Thailand surpass 100,000 mark with 2,302 new cases and 24 deaths
Indonesia suspends use of CTMAV547 batch of AstraZeneca vaccine following death; Covid-19 total now almost 1.74 million
Singapore reports 38 new local Covid-19 cases, highest in months; schools to be closed on Wednesday (May 19)
Philippine troops kill three suspected militants as Covid-19 cases keep rising and total climbs to 1,143,963
Vietnam reports 127 new local Covid-19 cases; leading medical experts head to Bac Giang to combat new clusters
Pope urges peace, unity in special mass for Myanmar
Philippine Air in talks with lessors, returning some planes, reports CNN Philippines
Vietnam's renewable energy output up nearly 160 per cent in Q1
Anti-coup militia says at least five dead in Myanmar clashes

Stories You'll Enjoy


Vouchers