The Finance Ministry now plans to develop a prime land plot owned by the State Railway of Thailand (SRT) in Bangkok's Makkasan area for both commercial and social purposes in a bid to ease public opposition.
The 490-rai plot will be developed for commercial purposes and as a public park, Deputy Finance Minister Wisudhi Srisuphan said yesterday.
Earlier the Finance Ministry planned to develop the land plot as a new commercial district, but public protests demanded the land be maintained as a green zone.
The SRT recently agreed to lease the Makkasan plot for a certain period to the Finance Ministry to partly clear its hefty debt.
The 700-rai plot comprises a large swamp and 490 rai of land that can be developed. That land covers the Makkasan station on the Airport Rail Link, an SRT hospital, residential quarters for staff and the head office of the maintenance unit.
The Finance Ministry will meet with the SRT next Wednesday for a joint appraisal of the land value for the rental fee calculation.
Transport Minister Prajin Juntong earlier said part of the plot should be set aside for a new park, museum, exercise area and bicycle lane.
Treasury Department director-general Chakkrit Parapantakul said the SRT was saddled with debt worth 110 billion baht, of which 80 billion was losses and 30 billion trade debt. Some 50 billion baht worth of losses was the result of previous governments' policies, with the rest incurred from SRT operations.
He said the SRT would consider leasing other plots including along the Chao Phraya River in Bangkok if the value of the Makkasan lease was insufficient to wipe out the 50-billion-baht debt.
In another development, Mr Wisudhi assigned the Treasury Department to seek land for development as special economic zones (SEZs). Tak's Mae Sot district and Sa Kaeo's Aranyaprathet district are the first areas picked for development.
The cabinet recently approved creation of SEZs in six border areas: Mae Sot, Aranyaprathet, Sadao in Songkhla, Trat, Mukdahan and Nong Khai. The special zones will cover 10 districts and 36 tambons with a combined area of 2,932 square kilometres.
The department also plans to develop vacant plots adjacent to airports as solar farms such as in Songkhla's Hat Yai district to increase the department's revenue stream to at least 6 billion baht a year in the next two years from 4-5 billion.