The State Railway of Thailand (SRT) will develop some of its prime land near Mae Nam railway station into commercial areas worth 88.7 billion baht in investment.
SRT governor Wutthichart Kalayanamitr said Thursday the agency planned to capitalise on the site located in Bangkok's Klong Toey district and develop the land for commercial purposes.
The private sector will be allowed to join the bidding process expected to be held next year, according to the Joint Public-Private Partnership Act.
Mr Wutthichart said the land covering a total of 277.5 rai is valued at about 13.3 billion baht, according to a land assessment conducted by King Mongkut's Institute of Technology Ladkrabang.
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The land development will be divided into five zones: Gateway Commercial Park, Iconic Marina, Cultural Promenade, Riverfront Residence and Affordable Community.
The Gateway Commercial Park covering 77.13 rai will be developed into residences, offices and department stores. This zone, located close to the railway station, will serve as the main entrance to the project.
The Iconic Marina, situated on 44 rai of land, consists of the Chao Phraya Iconic Tower, a high-rise building which will serve as the project's landmark, a middle-sized pier, a tourism centre, hotels, venues for exhibitions and seminars, malls and stores.
The Cultural Promenade, stretching on 78.25 rai of land along the Chao Phraya River, will be developed into stores, entertainment venues, restaurants, spas and mix-use towers.
Condominiums and residential areas will also be built in the Riverfront Residence zone covering 55.63 rai.
The site will be located close to a main road of the project which will connect to pedestrian walkways and cycling routes. This site will also have dorms for SRT employees and staff in an Affordable Community zone where stores selling souvenirs and local products and restaurants will be built.
All structures will be located next to small canals in the project. Mr Wuttichart said the project's feasibility study and design plan were also proposed to the Transport Ministry (MOT) for their consideration.
Besides the land development project, the SRT governor said the agency will also build a short road across the railway route near Mae Nam station to connect Rama III to Rama IV roads in a bid to address traffic congestion during rush hour.
The road will be only 20 metres long and 7.2 metres wide, consisting of two lanes. The construction, which will take about a month, will start shortly after the road design is completed this week.
The road will only be opened during rush hours to alleviate the traffic woes. A railway crossing will be overseen by SRT officials, Mr Wutthichart said.
The road will help relieve heavy traffic on Rama III and Rama IV roads. Traffic on the two roads contribute to congestion on adjacent routes such as the Asok-Sukhumvit and the Na Ranong intersections, as well as the Ratchadaphisek, Silom, Witthayu and Sathon Nua roads.
The project was conducted in response to the government's policy to solve traffic congestion in Bangkok and its perimeter, Mr Wutthichart added.
Below: The State Railway has an 88.7 billion baht commercial plan for this prime Klong Toey district land near the river, including new hotels and a marina. (Drone photo by Pattarapong Chatpattarasill)
