The Japan Bank for International Cooperation (JBIC) has confirmed it will finance the high-speed rail linking the three main airports and the Eastern Economic Corridor's smart city in Chachoengsao.
JBIC governor Tadashi Maeda, who met Prime Minister Prayut Chan-o-cha on Thursday, and Deputy Prime Minister Somkid Jatusripitak said JBIC is ready to extend soft loans for the 224.54-billion-baht high-speed railway linking Don Mueang airport in Bangkok with Suvarnabhumi in Samut Prakan and U-tapao in the eastern province of Rayong.
According to Mr Somkid, the Japanese bank also confirmed support for investment in the Chachoengsao smart city.
JBIC has already conducted a "smart city evaluation framework" of policies and incentives that potentially attract Japanese companies, Mr Maeda said.
Maj Gen Weerachon Sukondhapatipak, the government's deputy spokesman, cited Mr Maeda as saying JBIC's support to be given to the high-speed rail linking the three airports will be an example project of investment cooperation between the private sectors of Japan and China in a third country.
Mr Somkid also updated Mr Maeda, saying that the contractor selection committee of the State Railway of Thailand (SRT) is scheduled to settle talks with the CP-led consortium, which submitted the lowest quote for the construction work, on March 19.
The SRT postponed talks with the CP-led consortium on Wednesday because some members of its contractor selection committee were on "business leave".
The talks had already been delayed after CP said it was not ready after the committee rejected its 12 proposed changes to the original conditions of the 224-billion-baht project.
If the contractual negotiations with CP prove unsuccessful, BSR Joint Venture, the second-lowest bidder, will be called in.
SRT deputy governor Worawut Mala insisted earlier that the agency would be able to sign a contract this month.
According to Mr Somkid, Mr Maeda told Gen Prayut that the leaders of Japan and China agreed that the government's flagship Eastern Economic Corridor will be instrumental in driving not only Thailand's future economy, but also Asean's.
JBIC also yesterday highlighted its role in supporting Japanese small and medium-sized enterprises (SMEs) operating in Thailand.
As of February 2018, JBIC has offered support to 184 projects owned by Japanese SMEs in Thailand worth a total of 14.1 billion baht.
Thailand is the country where the largest number of Japanese SMEs projects are supported by JBIC.