Full steam ahead for MCOT's 50-rai Asean media complex

MCOT Plc, the SET-listed operator of Modernine TV, has finalised plans for its new 50-rai complex by reaching an agreement with the Mass Transit Authority of Thailand (MRTA) to use its land as an egress.

The MRTA board last week approved MCOT's rental of its land as an exit for the planned media complex on Ratchadaphisek Road.

MCOT president Anek Permvongseni said it will revise project details and start construction early next year.

The 50-rai site is located near the Thailand Cultural Centre and is valued at more than 2 billion baht.

MCOT has been planning to develop this complex since 2011 with the goal of turning it into a media complex for Asean. The project will comprise two phases and cost 10 billion baht for construction.

The first phase will require 6-7 billion to develop a 30,000-square-metre event hall, a 5,000-seat auditorium and a 59-storey office building of 80,000 sq m.

The first phase is scheduled to open in 2017.

The second phase comprises a 60,000-sq-m residential condominium with access to the MRTA's Orange Line. MCOT may allow property developers to operate its condo.

"We'll revise the project plan before doing anything. A working committee will be established to take care of the project," said Mr Anek.

MCOT's five-year goal is to be a leading communications company for digital broadcasting in Thailand. The 59th floor of the complex will be the main tower for a digital network transmitter including the studio and technical departments.

Vice-president Sura Gaintanasilp said the state broadcaster will continue with the second phase of digital broadcast trials next month. The digital signal will cover Bangkok and major provinces such as Khon Kaen, Surat Thani and Nakhon Ratchasima.

MCOT shares closed yesterday on the SET at 50.75 baht, up 3.25 baht, in trade worth 111 million baht.

About the author

Writer: Saengwit Kewaleewongsatorn
Position: Business Reporter