MRTA seeks investors for Orange Line

MRTA seeks investors for Orange Line

Authorities plan to raise funds from private investors to reduce state spending on construction of the Orange Line electric train linking Taling Chan and Min Buri.

The National Council for Peace and Order (NCPO) deputy chief ACM Prajin Juntong earlier floated the idea of having the Mass Rapid Transit Authority (MRTA), operator of electric railway projects, raise money through an alternative infrastructure fund.

The MRTA is conducting a study of the plan as it seeks NCPO approval of the 178-billion-baht project.

Among the MRTA's 10 new electric railway projects in Bangkok, the Orange Line looks most likely to proceed with private funding because it has better business prospects than other lines, said MRTA governor Yongsit Rotsikun.

He believes investors will be interested in the Orange Line because the 35km route passes many key commercial areas of the capital, such as Pratu Nam and Ratchadaphisek, Rama IX and Ramkhamhaeng roads.

There are also popular department stores along the route, including the Mall Ramkhamhaeng and Pantip, and key venues such as the Thailand Cultural Centre and Rajamangala National Stadium. Their location promises a large number of commuters would travel on the line, Mr Yongsit said.

"What we need is to draft commercial development plans around the stations to boost confidence for investors," he added.

The idea to help the government relieve its budget spending has also drawn interest from the State Railway of Thailand (SRT), which plans to set up its own property fund to manage its real estate business in other areas of the city.

The private sector will be encouraged to invest in commercial development of the SRT-owned land, said the railway's acting governor, Prasert Attanan. Both the agency and investors stand to profit, he said.

Three plots of SRT land, worth more than 84 billion baht in total, are rated with high commercial potential. They are the 512-rai plot in Makkasan, the 359-rai of land near the 11th kilometre marker on Phahon Yothin Road and the 277-rai land near Mae Nam railway station in Yannawa district.

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