BSR Joint Venture and a Charoen Pokphand Group (CP)-led consortium are going head to head in the bidding for a contract to build a 224-billion-baht high-speed railway project connecting three airports.
Both groups submitted their bid envelopes on Monday.
The high-speed rail link is considered a key connection between Bangkok and Rayong, which is located in the government's much-touted Eastern Economic Corridor (EEC) along the country's eastern coastline.
The project had gained the interest of 31 firms, including 17 from overseas. Some of these firms later grouped into the two major bidding collectives -- BSR Joint Venture and the CP-led consortium.
BSR, which was the first to tender its bid late yesterday morning, is made up of Bangkok Mass Transit System Plc, or BTSC, Sino-Thai Engineering and Construction Plc (STEC) and Ratchaburi Electricity Generating Holding Plc (RATCH).
Under their joint venture, BTSC will invest 60% while STEC and RATCH will each contribute 20%.
BTSC is currently the operator of the skytrain in Bangkok. Its Phaya Thai station is linked to the 29-kilometre Airport Rail Link which connects the capital with Suvarnabhumi airport in Samut Prakan.
According to the State Railway of Thailand (SRT), the new high-speed route will be built as an extension to the Airport Rail Link, connecting Suvarnabhumi with Don Mueang airport in northern Bangkok and U-Tapao airport in Rayong.
The CP Group bid was submitted by CP chief executive Suphachai Chearavanont.
Charoen Pokphand chief executive Suphachai Chearavanont leads his team to submit a bid for a high-speed train project connecting Suvarnabhumi, Don Mueang and U-Tapao airports yesterday.
CP, Thailand's agribusiness conglomerate, holds a stake of 70% in the consortium while Bangkok Expressway and Metro Plc (BEM) has 10%, China Railway Construction Corporation Ltd (CRCC) has 10%, Ch Karnchang Plc (CK) has 5%, and Italian-Thai Development Plc (ITD) holds 5%.
Being new to the rail industry, CP was happy to partner with BEM, operator of a subway connecting Hua Lamphong with Bang Sue in Bangkok. Its Phetchaburi station is also a stop on the Airport Rail Link.
CP Group vice-chairman Adiruth Thothaveesansuk claimed on Sunday that their bid offered "world-class knowledge, experience and expertise" in the sector.
A well-informed source at the SRT said his agency will start considering the bids from today until Dec 17.
"The result is expected to go before the cabinet between Jan 28 and 31 next year," the source said.
The winner will get a 50-year-contract, including the five years it will take to build.
The 220-km long high-speed railway network is scheduled to open in 2024. Its trains are expected to be able to reach up to 250 kilometres per hour.
The project was fast-tracked as part of the government's plans to develop the EEC, which comprises Chachoengsao, Chon Buri and Rayong.