Mor Chit redevelopment to resume after 2-decade delay
published : 17 Sep 2018 at 17:08
writer: Wichit Chantanusornsiri
The Treasury Department will ask the cabinet to approve a 26-billion-baht contract for the redevelopment of the old 63-rai Mor Chit bus terminal compound by Bangkok Terminal Co.
The project was originally contracted out 22 years ago, and delayed by legal challenges.
The site currently functions as a park-and-ride and depot for the BTS electric railway, which will be incorporated into the redevelopment.
Deputy director-general Amornrat Klamplob said on Monday the contract would be proposed to the cabinet during its regular weekly meeting this Tuesday or next Tuesday.
Approval would be sought to proceed with the original 1996 plan for Sun Estate Co to build a shopping centre, a hotel, a serviced apartment building and a park-and-ride on the site of the old Mor Chit bus terminal compound, which is on Treasury land on Phahon Yothin Road.
The project was contracted in 1996 at 18 billion baht. It is why the Land Transport Department had to move the bus terminal to nearby Kamphaeng Phet Road.
Bangkok Terminal Co is the new name of the original contractor, Sun Estate.
The redevelopment was delayed by accusations it had not undergone the thorough scrutiny required by the public-private joint venture law.
The Administrative Court has finally ruled in favour of the project, confirming that the contract the Treasury Department had earlier signed with Bangkok Terminal remained valid.
The contractor would have the right to operate the property complex for 30 years in exchange for its payment of a land-use fee of 600 million baht in cash and the allocation of developed space valued at 2.4 billion baht for the department's use, Mr Amornrat said.