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INFRASTRUCTURE
WICHIT CHANTANUSORNSIRI
Dr Surapong opens a conference yesterday at Bitec to discuss state policies to strengthen the village investment fund programme. The village funds are aimed at financing small entrepreneurs and community business ventures nationwide. |
Financing details for four new Bangkok mass-transit routes should be finalised within the next two months, Finance Minister Surapong Suebwonglee said yesterday.
Contractors for the four routes are also expected to be named by the end of the year, he added.
The government plans to invest over 770 billion baht in nine new mass-transit routes over the next seven years. But progress has been slow to date, with bids only now under review for the Purple Line from Bang Sue to Bang Yai.
The other four routes to be awarded this year include the second phase for the Red Line, running from Rangsit to Bang Sue; the Blue line from Bang Sue via Tha Phra and Hua Lamphong to Bang Khae; the Light Green line from Onnuj to Samut Prakan; and Dark Green line from Mor Chit to Saphan Mai.
Dr Surapong said authorities would review construction budgets for the four lines to reflect higher prices for labour, steel and materials.
He expressed confidence that the megaprojects would play a key role in helping spur investment in the economy, which has slowed sharply in recent months due to rising inflation, political uncertainties and global market volatility.
For the Purple Line, the cabinet agreed to raise civil construction budgets by 10% from the previously estimated 31 billion baht. More recently, the second phase for the Red Line from Rangsit to Bang Sue had its budget raised to 77 billion baht from 59 billion to cover higher construction costs.
Pongpanu Svetarundra, the director-general of the Public Debt Management Office, said 80 billion baht worth of loans would be taken from the Japanese Bank for International Co-operation to finance the Red and Blue lines.
He said contracts for the loans were expected to be signed in the fourth quarter, with bidding for contractors to be completed by the end of the year.
The estimated 55 billion baht required for the Light Green and Dark Green lines will be financed through domestic borrowing from local banks and the money market, as well as from direct budget allocations from the central government.
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