PTT eyes airport rail link
PTT Plc, the national oil and gas conglomerate, is conducting a feasibility study for a high-speed railway linkage between three major airports in Bangkok and Chon Buri worth 200 billion baht.
The company's board of directors approved yesterday participating in a future auction for the megaproject as the terms of reference (ToR) are rumoured to be near completion by the State Railways of Thailand.
Piyasvasti Amranand, chairman of the board, said it approved buying the ToR for the project linking Don Mueang, Suvarnabhumi and U-tapao airports.
The project is a key infrastructure in the government's much-touted Eastern Economic Corridor scheme, consisting of 10 targeted industries operating in three strategic provinces: Chachoengsao, Chon Buri and Rayong.
"This project is interesting to PTT because it will be relevant to our core business in those provinces such as electricity supply, but the board has yet make a decision until the feasibility study is completed," said Mr Piyasvasti, a former energy minister.
PTT is likely to seek partners for this project, but it cannot disclose any more information, he said.
The ToR is open to both local and foreign investors until November this year. The project is scheduled begin operation in 2023 under the public-private partnership scheme.
PTT's move is similar to Ratchaburi Electricity Generating Holding Plc, Thailand's largest private power producer, which took 10% ownership with Bangkok Mass Transit System Co, owner of the skytrain, and Sino-Thai Engineering and Construction Plc, to develop and operate the Yellow and Pink lines, which are under construction. They are expected to start operation in early 2021.
The PTT subsidiary Global Power Synergy Plc (GPSC) is conducting a feasibility study on the energy storage business.
This project is the third time GPSC has expanded its business after announcing investment in an energy storage production facility in Thailand with US-based M24, as well as a charger service for electrical vehicles.
GPSC also joined a community power distribution business with Navanakorn Plc in Pathum Thani.