Thailand: High Speed Rail Deal
Thailand, Bidding For High-speed Trains Set For Q-3 Next Year
Another reason Shayne Heffernan is keeping the Thai Baht a strong buy is the phenomenal growth in Thai infrastructure that will become a reality over the next 10 years.
International bidding for Thailand ‘s procurement of high-speed trains to carry passengers and cargoes will likely be held in Q-3 of Y 2014, according to Thai Transport Minister Chatchart Sitthipun.
The bidding by various foreign firms to win the Thai high-speed train project would likely be held from Q-3 of next year until Y 2017 while the construction of the railways and the procurement of those trains are scheduled to be completed within Y 2020, the minister said on Friday.
For the time being, environmental impact assessments are yet to be finished, regarding the planned routes for the high-speed trains with a main station in Bangkok.
Those routes include Bangkok – Pitsanuloak, which will be extended to Chiang Mai City, viewed as the country’s northern logistical hub and tourist destination hub; Bangkok – Nakorn Ratchasima, which will be extended to Nong Khai province, viewed as a gateway to the Lao capital of Vientiane; Bangkok – Rayong, the country’s eastern seaboard industrial hub and deep-sea port; and Bangkok – Hua Hin, viewed as a flourishing tourist destination and gateway to the southern region.
No matter who finally win the bidding for the high-speed trains, all the railways running through those provinces will apply the same operational systems, according to the transport minister.
Chatchart said he will leave for Kunming city in southern China some time next month to discuss the US$4.9-B high-speed rail project with senior Chinese government officials. He did not go into details.
Chatchart said the Thai and Chinese governments might probably agree to dealing in some barter trade between Chinese high-speed trains and Thai farm goods such as rice and rubber. He did not elaborate.
He confirmed that the Chinese have planned to run high-speed trains laden with tourists and merchandise from Kunming to Nong Khai, across the international Mekong River from Vientiane.
Besides the Chinese, several other foreign firms have shown interest to vie for varied rail projects in addition to the high-speed train project including those from South Korea, Japan, France and Spain.
Given an estimated US$73-B loans to fund the country’s infrastructural development programs, the Thai government has planned to build double-track railways in the provinces as well as additional elevated railways to ply Bangkok’s suburban areas, apart from the interprovincial high-speed trains.
Latest posts by Paul Ebeling (see all)
- Boeing (NYSE:BA) Reports Wednesday Before The Open - January 27, 2015
- Stem Cell Breakthrough Promises Cure For Baldness - January 27, 2015
- Hillary Clinton Missing In Action - January 27, 2015
- Brazil’s 2015 Inflation Rate At 11-yr High - January 27, 2015
- Automobile Ownership Tops 154-M In China - January 27, 2015
Boeing (NYSE:BA) Reports Wednesday Before The Open Boeing Co. (NYSE: ... read more
US Treasuries Up, US Dollar Down 10-Yr: +06/32..1.799%.. USD/JPY: 117.95.. ... read more
Gold, Silver, Crude Oil, Nat Gas Up, Copper Down Mar ... read more